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Letters and Statements

AFR Statement: S. 2155 Ignores Lessons of Financial Crisis, Flouts Will of Voters
May 22, 2018 – 5:48 pm

This legislation ignores the lessons of the financial crisis that cost so many Americans their jobs and homes, and pays no heed to the overwhelming majority of voters who correctly understand the need for tougher, not weaker, oversight of the financial services industry.

AFR Statement: Statement on Appointment of Andrew Smith as Head of FTC Bureau of Consumer Protection
May 17, 2018 – 2:29 pm

“The least likely candidate to run the FTC’s consumer protection unit ought to be the former lawyer for a notorious payday lender that the FTC itself pursued for a billion-dollar settlement and who is now in prison on a racketeering conviction,” said José Alcoff, Payday Campaign Manager at Americans for Financial Reform.

AFR Statement: Statement on Passing of Deadline to Roll Back CFPB Payday Rule
May 17, 2018 – 11:12 am

“Congress has done the right thing in allowing the rule to stand. Now the spotlight is on Mick Mulvaney. Will he move ahead on his plans to unravel it, and continue to cater to the payday lenders who gave generously to his campaigns?” said Lisa Donner, executive director at AFR.

AFR Statement: AFR Criticizes Mulvaney Move to Manipulate Research, Curb Student Advocacy
May 9, 2018 – 1:04 pm

“What Mulvaney is really interested in is not serious research, but information that advances the interests of the Wall Street banks and predatory lenders he serves.”

AFR Statement: Closing the CFPB’s Office for Students is like shuttering the fire department in the middle of a fire
May 9, 2018 – 12:10 pm

“America is facing an ongoing student debt crisis, with outstanding student debt surpassing $1.5 trillion and over 8 million borrowers in default on their student loans. Closing the Office for Students is like shuttering the fire department in the middle of a three-alarm fire,” said Alexis Goldstein, senior policy analyst at Americans for Financial Reform.

AFR Statement: AFR Condemns House Vote to Abandon CFPB Auto Lending Guidance
May 8, 2018 – 4:57 pm

In the era of mass incarceration, racial profiling and unaccountable police brutality, every member of Congress who voted for this bill has to explain why they do not believe people of color deserve the full protection of the federal government, especially given the long documented history of racial discrimination in auto lending.

AFR Statement: Wall Street Money Hits $719 Million in 2017, Headed Past $2 Billion in this Election Cycle
May 7, 2018 – 6:00 am

Wall Street pumped $719 million into the political process in 2017, a rate that puts it on pace to outstrip the record $2 billion it spent during the 2015-2016 campaign cycle, according to a new report by Americans for Financial Reform.

AFR Statement: Consumers Need CFPB Director Nominee, Not Mulvaney’s Pay-to-Play
April 25, 2018 – 11:20 am

Mick Mulvaney admits he favored lobbyists who gave him money as a lawmaker. He has no business running the CFPB, an agency devoted to the protection of consumers, not lobbyists.