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AFR Release: New Report Documents Deepening Links Between Payday Lending and Private Equity
December 15, 2017 – 7:43 am | Comments Off on AFR Release: New Report Documents Deepening Links Between Payday Lending and Private Equity

Private equity moguls have invested heavily in the payday and installment lending. The development puts private equity firms in the position to profit from efforts by payday lenders to roll back an important new rule by the Consumer Financial Protection Bureau.

AFR Report: Payday Lending and the Private Equity Business
December 15, 2017 – 7:37 am | Comments Off on AFR Report: Payday Lending and the Private Equity Business

New report offers details on over 20 cases of private equity investment in payday lending, and how the new owners or investors seek greater rewards from this predatory business.

AFR Statement: Bipartisan Senate Bill Rewards Banks While Leaving out Consumers
December 13, 2017 – 10:10 pm | Comments Off on AFR Statement: Bipartisan Senate Bill Rewards Banks While Leaving out Consumers

A bipartisan majority of lawmakers on the Senate Banking Committee last week rejected a series of public interest amendments in order to advance a bill full of gifts to banks.

AFR Statement: Trump Tweets Tough on Wall Street As Record Shows Opposite
December 8, 2017 – 2:13 pm | Comments Off on AFR Statement: Trump Tweets Tough on Wall Street As Record Shows Opposite

The notion that this administration is or will be tough on Wall Street doesn’t pass the laugh test, and that fact is evident in deeds, not tweets. Trump has put Goldman Sachs executives in the most senior positions in the government, and pushed for a giant tax cut for Wall Street.

AFR Statement: Public Interest Groups File Amicus Brief In Support of Leandra English as CFPB Director
December 8, 2017 – 1:33 pm | Comments Off on AFR Statement: Public Interest Groups File Amicus Brief In Support of Leandra English as CFPB Director

Americans for Financial Reform joined a group of public interest advocates in support of Leandra English’s lawsuit to be recognized as the sole lawful Acting Director of the Consumer Financial Protection Bureau.

AFR/TOWS Statement: Senate Republican Tax Bill a Gift to Wall Street
December 5, 2017 – 10:02 am | Comments Off on AFR/TOWS Statement: Senate Republican Tax Bill a Gift to Wall Street

On Friday, Senate Republicans passed a bill with some $1.5 trillion in tax cuts, overwhelmingly weighted to the wealthiest Americans. The bill lavishes tax cuts on Wall Street banks, on executives who can manipulate their legal status to obtain a lower tax rate, and on operations in foreign tax havens. In contrast, ordinary Americans earning wages and salaries receive very limited benefits, and in many cases will see their taxes increased.

AFR Statement: English is Rightful Acting Director While Courts Rule on CFPB Leadership
November 27, 2017 – 6:01 pm | Comments Off on AFR Statement: English is Rightful Acting Director While Courts Rule on CFPB Leadership

In the meantime, the CFPB still has work to do holding Wall Street to account on behalf of American consumers, and Ms. English and the CFPB staff can continue its successful run. Now, the president should nominate someone with a track record of fighting for consumers who will enjoy bipartisan support in the Senate.

AFR Statement: Attempt to Put Mulvaney in at CFPB Shows Contempt for American Consumers
November 27, 2017 – 5:47 pm | Comments Off on AFR Statement: Attempt to Put Mulvaney in at CFPB Shows Contempt for American Consumers

Mulvaney has said he is opposed to the very existence of the CFPB, and as a member of Congress he voted in favor of Wall Street banks and predatory lenders — his largest donors — again and again. The CFPB has recovered $12 billion in ill-gotten gains on behalf people around this country. It is this work that the administration apparently wants to destroy