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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Letters to Regulators: AFR submitted a comment on new Federal Reserve rating system for large institutions
February 16, 2018 – 10:10 am

AFR sent a comment letter to the Federal Reserve Board on the proposed new rating system for supervision of large financial institutions.

Congressional Testimony: AFR Submits Statement Re House Financial Services Hearing on Derivatives Regulation
February 14, 2018 – 4:10 pm

AFR submitted a statement to the Capital Markets Subcommittee of the House Financial Services Committee regarding a 2/14/18 hearing examining eleven different proposed bills affecting regulation of derivatives markets.
Final AFR Statement For 2-14 Derivatives Hearing

Letters to Congress: AFR Urges Opposition to HR 3978 — A Bill Harming Investors and Consumers
February 13, 2018 – 2:35 pm

AFR sent a letter urging House members to vote “No” on H.R. 3978 — a grab bag of bad legislative ideas that would weaken SEC oversight of Wall Street and undermine consumers, investors rights and protections.

AFR Statement: Administration Seeks Sabotage of CFPB Via Budget, ‘Strategic Plan’
February 13, 2018 – 1:56 pm

“The administration’s budget and Mick Mulvaney’s ‘strategic plan’ for the CFPB are transparent attempts to stop the agency from doing what it was designed to do: actually protect consumers.”said Lisa Donner, executive director, Americans for Financial Reform.

Joint Statement: Sen. Jeff Merkley, Rev. Willie Gable Jr. Condemn Ongoing Sabotage of CFPB, Demand Pres. Trump Nominate Consumer Advocate as Director
February 7, 2018 – 5:14 pm

“Under the Trump administration, the Consumer Financial Protection Bureau has become the Payday Predator Protection Bureau,” said Sen. Jeff Merkley (D-Oregon). “Trump and his allies are blatantly trying to dismantle the bureau from the inside. If this isn’t a crystal clear example of the Trump administration governing of, by, and for the powerful rather than of, by, and for the people, then I don’t know what is.”

AFR in the News: Trump-appointed CFPB head eases up on Equifax probe (New York Post)
February 6, 2018 – 10:23 am

“This isn’t the first drastic turnaround for the CFPB under Mulvaney. Last month, the agency canned rules that made it harder for payday lenders to make high-interest loans — and automatically pull funds — from borrowers. ‘Mick Mulvaney wants to let Equifax off the hook for its reckless abuse and negligence that may have a lasting impact on millions of Americans,’ [said] Lisa Donner, executive director of Americans for Financial Reform.”

AFR Statement: Report Mulvaney Backing Away from Equifax Probe Shows Need for Credible CFPB Director
February 5, 2018 – 1:36 pm

It’s one more reason why it’s so important to have someone with a track record of protecting consumers running the CFPB, not someone who wants to destroy its work.

AFR in the News: Payday Rules Relax on Trump’s Watch After Lobbying by Lenders (New York Times)
February 3, 2018 – 10:12 am

“‘Payday lenders are clearly watching this with bated breath,’ said José Alcoff, manager of the Stop the Debt Trap campaign at Americans for Financial Reform. ‘I think this is clearly a case where the system is getting more and more rigged, where they have, as they say, the fox in charge of the henhouse.’”