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Joint Letter: Letter to the CFPB on Data Collection
January 14, 2019 – 10:12 am | Comments Off on Joint Letter: Letter to the CFPB on Data Collection

AFR Education Fund was among the 18 organizations that submitted these comments responding to the CFPB’s RFI on data collection on December 27, 2018. You can view or download pdf of the letter here.

AFR In The News: The Consumer Financial Protection Bureau’s Top Six Dubious Accomplishments In 2018 (Talking Points Memo)
December 26, 2018 – 8:00 am | Comments Off on AFR In The News: The Consumer Financial Protection Bureau’s Top Six Dubious Accomplishments In 2018 (Talking Points Memo)

“The failure of Mulvaney’s CFPB to properly carry out the law, whether by failing to supervise companies or dropping cases that were underway is a green light for direct and immediate harm to ordinary Americans,” Carter Dougherty, communications director for Americans for Financial Reform, told TPM via email.

AFR And NCLC Statement: Advocates Urge Consumer Bureau To Protect Consumers From Abusive Debt Collectors
December 20, 2018 – 9:40 am | Comments Off on AFR And NCLC Statement: Advocates Urge Consumer Bureau To Protect Consumers From Abusive Debt Collectors

Advocates from 74 national and state advocacy groups sent a letter yesterday afternoon to new Consumer Financial Protection Bureau Director Kathy Kraninger urging the bureau to focus on protecting consumers from abusive debt collection practices in anticipation of a proposed debt collection rule expected in March 2019.

Joint Letter: Specific Recommendations To Protect Consumers Through Ongoing Rulemaking On Debt Collection
December 20, 2018 – 9:37 am | Comments Off on Joint Letter: Specific Recommendations To Protect Consumers Through Ongoing Rulemaking On Debt Collection

As we approach the fifth year anniversary of the proposed rulemaking on debt collection, and the regulatory process appears to be moving forward, the 74 undersigned consumer, community, civil rights, faith, labor and legal services groups write to urge the Consumer Financial Protection Bureau (“Consumer Bureau”) to focus on protecting consumers from abusive debt collection practices in any rule that it issues.

AFR Statement: Extralegal ‘No-Action Letter’ Policy Would Exempt Industries From Basic Supervision And Enforcement
December 14, 2018 – 12:17 pm | Comments Off on AFR Statement: Extralegal ‘No-Action Letter’ Policy Would Exempt Industries From Basic Supervision And Enforcement

In Mick Mulvaney’s final hours as acting director, the Consumer Financial Protection Bureau (CFPB) proposed two policies that put consumers at gravely increased risk of the very harm the CFPB is supposed to prevent.

Joint Letter: Report to SEC Highlights Disclosure Weaknesses of Broker Standards Rule
December 11, 2018 – 5:30 am | Comments Off on Joint Letter: Report to SEC Highlights Disclosure Weaknesses of Broker Standards Rule

Given the evidence that, after being provided a summary relationship disclosure, investors still cannot fully understand, and in some cases misunderstand, fundamental differences in the nature of the brokerage and advisory relationships and the respective duties they are owed, the different fees they would pay, or how various conflicts of interest can influence the recommendations they receive, a regulatory regime that relies on disclosure for investors to make an informed decision about what type of financial professional to work with and what type of account to use is certain to fail.

AFR Statement: ‘Aye’ Votes On Kraninger Expose American Families To Greater Wall Street Abuse
December 6, 2018 – 2:18 pm | Comments Off on AFR Statement: ‘Aye’ Votes On Kraninger Expose American Families To Greater Wall Street Abuse

The Senate majority has endorsed a CFPB nominee indistinguishable from Mick Mulvaney, who has done his level best to dismantle from within an agency that once won real results for American families hurt by Wall Street and predatory lenders. Kraninger has no track record at all of consumer protection, or of standing up for vulnerable people.

AFR Statement: Senators Must Reject Kraninger Nomination
November 29, 2018 – 2:18 pm | Comments Off on AFR Statement: Senators Must Reject Kraninger Nomination

Kathy Kraninger has put no daylight whatsoever between herself and Mick Mulvaney, who has done his level best to dismantle from within an agency that once won real results for American families hurt by Wall Street and predatory lenders. He has subverted, not advanced, the mission of consumer protection for which Congress created the CFPB.