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Financial Reform News

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

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.

Joint Statement: Groups Demand to Know How Much Money Credit Bureaus Will Make Off Data Breach
November 17, 2017 – 12:10 pm

American for Financial Reform, the Consumer Federation of America, the National Consumer Law Center, U.S. PIRG, and other nonprofit advocacy groups wrote a letter to the CEOs of all three companies asking for detailed information on how the data breach might be leading to higher revenues in credit freeze fees and credit monitoring services.

AFR Letter: How Much Will Credit Bureaus Make Off Equifax Data Breach?
November 17, 2017 – 12:01 pm

American consumers deserve to know how much money the big three credit bureaus — Experian, Equifax and TransUnion — will make due to the devastating data breach at Equifax.

AFR Statement: Equifax Earnings Highlight Broken Model of Credit Reporting
November 10, 2017 – 2:51 pm

The hack may even have been a boon to the bottom line of credit reporting companies, which charge consumers to freeze their credit report or monitor their credit, even though consumers are seeking these protections due to this massive breach.

AFR Statement: Monopoly Man Highlights Need for Congress to Act on Consumer Rights
November 10, 2017 – 2:45 pm

But the question is, what will Congress do after a hearing on data breaches? Will they act to restore our right to control information about our own lives, and protect our privacy, or will they let Equifax and other data brokers turn the problems they caused into an excuse for undermining existing state laws with a sham weaker federal standard that replaces them? Will they restrict access to the courts?

AFR Statement: Stories of Wells Fargo Victims Drive Home Injustice of Forced Arbitration
October 23, 2017 – 9:02 am

Americans for Financial Reform is stepping up its campaign in support of the consumer’s right to a day in court. A significant five-figure digital campaign targeting Maine, Alaska, Louisiana and Arizona will tell the stories of Hudson and Byrd, who were scammed by Wells Fargo – and left with no means of pursuing justice.

AFR Report: Government Sachs And The Trump Administration
October 10, 2017 – 9:04 am

Goldman Sachs-linked appointees in the Trump administration are pursuing a broad agenda of deregulation and privatization that will directly benefit the New York investment bank.

AFR Statement: “Monopoly Man” Highlights Equifax, Wells Fargo Use of Forced Arbitration
October 4, 2017 – 1:08 pm
AFR Statement: “Monopoly Man” Highlights Equifax, Wells Fargo Use of Forced Arbitration

Americans for Financial Reform and Public Citizen are defending limits on forced arbitration from congressional attack with a delivery all 100 U.S. Senate offices: a mock “Get-Out-of-Jail-Free” card for the banks inspired by the board game Monopoly. An activist dressed as the billionaire Monopoly Man led the delivery.