Message to Congress: The CFPB Has Our Back!
April 11, 2016 – 4:21 pm | Comments Off on Message to Congress: The CFPB Has Our Back!

What made the latest congressional hearings on the Consumer Financial Protection Bureau different from other hearings? A delegation of consumer advocates from around the country wearing lime-green t-shirts that said “Stand Up for the CFPB” and “The CFPB Has My Back.” They were there to remind lawmakers that the great majority of Americans, across party lines, don’t just like the idea of such an agency; they also support the major steps it has taken to bring a sense of fair play to the financial marketplace.

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AFR Statement: House Vote on CFPB Forced Arbitration Rule a Victory for Big Banks and Predatory Lenders
July 25, 2017 – 5:25 pm

House vote to roll back CFPB rule limiting forced arbitration aids big banks and predatory lenders while stopping ordinary Americans from getting their day in court.

Letter to Congress: On Nomination of Randal Quarles for Federal Reserve Vice-Chair for Supervision
July 25, 2017 – 4:15 pm

AFR Opposition Leter to Randal Quarles
July 25th, 2017
Dear Senator,
On behalf of Americans for Financial Reform, we are writing in opposition to the confirmation of Randal Quarles for Vice-Chair for Supervision at the Federal Reserve.[1]  This …

AFR Statement: House Lawmakers Voting to Roll Back CFPB Forced Arbitration Rule Defy Public Sentiment
July 25, 2017 – 11:49 am

In a tough test for the public’s view of the rule, likely voters concluded the rule helps hold companies accountable, and rejected notions that it will encourages frivolous lawsuits.

AFR/CRL Poll: Bipartisan, National Majorities Support CFPB Rule Curbing Forced Arbitration
July 25, 2017 – 10:27 am

Strong, bipartisan majorities nationwide back the Consumer Financial Protection Bureau’s rule curbing forced arbitration and giving consumers their day in court.

AFR Statement: Oppose Effort to Roll Back CFPB Rule Banning Forced Arbitration
July 20, 2017 – 12:12 pm

Rolling back CFPB rule banning forced arbitration would be a giveaway to Wells Fargo and predatory lenders. Lawmakers should oppose this cynical effort.

TOWS Press Release: Leading Members of Congress Propose An Agenda to Take on Wall Street
July 19, 2017 – 12:39 pm

“Seven years ago this week the Dodd Frank act was signed into law, setting in motion measures to protect consumers and make the financial system more stable. Unfortunately, some lawmakers wish to turn back the clock and undo these reforms, and we are stepping up the fight to stop them. But the important work of defending Dodd-Frank must not be the end of the story. We need to do more to build a financial system that works for most Americans, not against them.”

Letter to Regulators: AFR Opposes SoFi’s Deposit Insurance Application
July 19, 2017 – 12:15 pm

“…The essence of SoFi’s application is a request to seek the benefits of federal deposit insurance without subjecting SoFi itself or its private equity owners to the well-founded requirements for bank holding companies. The FDIC should not approve the application to facilitate this regulatory arbitrage. …If its application is granted, SoFi will be the first new ILC to secure deposit insurance in over a decade. That will send a clear signal to the marketplace that the FDIC intends once again to approve ILC deposit insurance applications. FDIC should not grant SoFi’s application and allow the ILC loophole to be revived.”

TOWS in the News: Progressives revive attacks on Wall Street in health care’s wake (Washington Post)
July 19, 2017 – 10:50 am

“[A]s the seventh anniversary of the Dodd-Frank Act approaches Friday, a coalition of progressive groups is pushing the party to get back on offense. The groups… organized under the banner of ‘Take on Wall Street’ — aim to crank up grassroots heat on elected Democrats. They want party leaders, though deep in the minority, to revive some of the get-tough measures they campaigned on last year, when they expected to win at least the White House.”