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Joint Statement: Transfer of CFPB Consumer Response Unit Offers No Clear Benefit

Consumer Response has essentially been an independent office housed in the Operations Division. As such, its research on consumer complaint trends has been equally available to all divisions and offices, including, for example, Supervision, Enforcement and Fair Lending; Research, Markets and Regulations; and Consumer Education and Engagement. Is this transfer designed to diminish the Consumer Response unit’s important role in helping all units of the agency collect and understand the ongoing complaints that consumers raise? What benefit does this transfer provide consumers and will this relocation affect the Complaint unit’s budget?

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TOWS Statement: Wall Street Makes Bank on Trump: 2017 in Review

The report includes facts about lobbying spending that hit $2 billion in the last election cycle, and continues unabated, Wall Street executives in the Trump administration and regulatory agencies, tax cut windfalls for the finance industry, and a deregulatory free-for-all. It also includes a case study of how Wells Fargo’s outrageous conduct somehow earned it the distinction of being the biggest winner from the Trump-Republican tax bill.

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AFR Report: Warren Endorses Need for Action on Wall Street Role in Home Rental Market

In the past 10 years, nine big Wall Street firms have fundamentally altered the rental landscape in their targeted cities across 13 states by eliminating the human aspects of the relationship between tenants and their landlord. In some areas, the largest SFR companies own a large percentage of all single family rentals in a given zip code – up to 12.5 percent in some areas.