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Letters and Statements

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.

Joint Statement: Transfer of CFPB Consumer Response Unit Offers No Clear Benefit
February 1, 2018 – 2:37 pm

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?

Joint Statement: Changes to CFPB Fair Lending Office Undermine Anti-Discrimination Work
February 1, 2018 – 12:19 pm

Fair Lending is a fundamentally important part of the work of the Consumer Financial Protection Bureau, and of a financial system that works for families and communities. The Office of Fair Lending and Equal Opportunity needs the authority, the resources, and the connections to key levers of change to do its job.

AFR Statement: Appeals Court Decision Knocks Out Longstanding Argument Against CFPB Single Director
January 31, 2018 – 2:07 pm

Charging that the single director structure — which helps make the bureau an effective consumer regulator, if that director is committed to the public interest — was unconstitutional evolved into a mainstay of attacks from Wall Street, predatory lenders, and their friends in Congress and the administration.

AFR Statement: Trump Year One Full of Gifts to Wall Street
January 30, 2018 – 11:26 pm

From tax cuts to deregulation to changes at the Consumer Financial Protection Bureau, the first year of the Trump administration has been a boon to Wall Street at the expense of ordinary Americans.

AFR Release: Lawsuits Challenge Trump-Mulvaney Attempt to Take Over CFPB
January 12, 2018 – 4:26 pm

Americans for Financial Reform and the Center for Responsible Lending hosted a press call today with leading experts to discuss two ongoing lawsuits concerning the CFPB director and the administration’s attempts to destroy the CFPB’s independence.

AFR Release: New Polling Memo Shows Debate On CFPB Is Political Winner
January 10, 2018 – 11:15 am

Fighting to preserve the mission of the Consumer Financial Protection Bureau resonates strongly with an American public that is still feeling the effects of the Wall Street-induced recession and its continuing ripoffs of its own customers, according to a new polling memo.

AFR Memo: Debate on CFPB Mission Strikes Positive Chord With Public
January 10, 2018 – 11:15 am

By overwhelming majorities, across party lines and geographies, the American public supports the mission of the Consumer Financial Protection Bureau, and rejects standard arguments against it.