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: Budget Takes Aim at CFPB and Student Loan Holders
May 23, 2017 – 10:52 am

“Without exception, the proposals we’ve seen to de-fund or restructure the Consumer Financial Protection Bureau are about making it less effective at doing its job,” said Brian Marshall, policy counsel at AFR. “The agency has won relief worth $12 billion for 29 million Americans since it started work. All these proposed changes to the CFPB would do is make it easier for Wall Street and assorted predatory lenders to rip people off.”

Joint Statement: Another Step Forward for Retirement Savers
May 23, 2017 – 10:24 am

From a statement by the Save our Retirement Coalition: “Retirement savers need an enforceable fiduciary standard and a Department of Labor that is prepared to hold firms accountable for compliance. Until the full complement of rule requirements takes effect, their hard earned savings will continue to be at risk as a result of conflicted advice from financial professionals who put their own financial interests ahead of their customers’ best interests. Yesterday’s decision was an important step forward, but there is still a long road ahead.”

Joint Letter: Open Letter to Acosta Urging Strong Fiduciary Rule Without Delay
May 19, 2017 – 11:34 am

In the face of supporting evidence described above, in addition to harming retirement savers, the Department would be exposing itself to significant legal risk to change course and further delay the Rule now.

AFR in the News: Trump to propose scrapping beleaguered student loan forgiveness program (MarketWatch)
May 18, 2017 – 2:10 pm

“Alexis Goldstein, a senior policy analyst at Americans for Financial Reform… described the idea of eliminating the program as ‘horrifying,’ noting that… borrowers are struggling to manage their student debt, pushing them to put off home-buying and other financial milestones. Eliminating a forgiveness program would only make that worse, she said. ‘It seems both ill-conceived from a policy perspective and just cruel.’”

AFR Letter: Oppose the Regulatory Accountability Act
May 17, 2017 – 9:17 am

Throwing up elaborate procedural hurdles isn’t a recipe for to good government. It’s a deliberate plan for increasing the control that Wall Street’s lobbyists have over government decision-making at the expense of the public interest.

Letter to Congress: Americans for Financial Reform opposes five bills before HSGAC
May 16, 2017 – 8:29 pm

“…These bills would further complicate, confuse, and delay the regulatory process; further advantage regulated industries over the public interest; and make it impossible for regulators to act effectively against Wall Street recklessness and abuse of consumers.”

Letter to Regulators: AFR Calls on CFTC To Strengthen Risk Controls for Derivatives Dealers
May 16, 2017 – 2:04 pm

The full letter is linked below:
Americans for Financial Reform Comment Swaps Entity Capital and Liquidity Requirements

Letter To Congress: AFR, 63 Groups Oppose Regulatory Accountability Act
May 16, 2017 – 2:02 pm

On behalf of the undersigned 63 organizations, we are writing to express our strong opposition to S. 951, the “Regulatory Accountability Act”, and to urge you to oppose this bill. The Regulatory Accountability Act (RAA) …