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Statements and Press Releases

Joint Statement: President Trump Signs Bill that Strips Choice to Seek Justice in Court
November 1, 2017 – 4:48 pm

“’President Trump had a clear choice to make today between Wall Street and the rest of us,’ said Amanda Werner of Americans for Financial Reform and Public Citizen. ‘He chose Wall Street. But the rest of us will keep fighting to restore our rights so we can fight back the next time a company like Wells Fargo or Equifax tries to rip us off and get away with it.’”

AFR Statement: FHFA praised for adding language preference question to mortgage form
October 20, 2017 – 3:15 pm

“FHFA made a great decision,” said Amanda Jackson, AFR’s Organizing and Outreach Manager. “Knowing homeowners’ preferred language will help Fannie, Freddie, and mortgage servicers better communicate with their customers and avoid unnecessary – and sometimes devastating – confusion.”

Joint Statement: CFPB Payday Lending Rule Will Disrupt Abusive Lending, Protect Families
October 5, 2017 – 1:34 pm
Joint Statement: CFPB Payday Lending Rule Will Disrupt Abusive Lending, Protect Families

“At the heart of the rule is the common sense principle that lenders check a borrower’s ability to repay before lending money. While praising the CFPB for pushing to stop the debt trap, the coalition calls on the Bureau to build on this progress by quickly working to develop regulations to protect consumers from abusive long-term, high-cost loans. Also, strong state laws, such as rate caps, must continue to be defended and enacted.”

AFR Statement: Regulators were wrong to remove AIG from list of systemically important financial companies
September 30, 2017 – 5:41 pm

“The financial crisis demonstrated that purely state-level oversight cannot fully address the potential systemic risks of our largest insurance companies. It was an ill-considered and reckless decision to remove AIG’s designation as a systemically significant financial institution.”

Joint Letter: Consumer Groups Applaud CFPB Review of Overdraft Fees, Oppose Senate Move Against Forced Arbitration Rule
September 29, 2017 – 1:36 pm

The Consumer Financial Protection Bureau’s review of unfair and abusive overdraft practices is complemented by its recent efforts to limit the use of forced arbitration, said five consumer groups in a joint letter sent today to Director Richard Cordray. U.S. Senate leadership is pushing for a vote this week on a Congressional Review Act (CRA) resolution to repeal a CFPB rule that restores consumers’ right to join together in court against banks and lenders.

TOWS Statement: Republican Leadership and Trump unveil plan to cut taxes for the 1%
September 27, 2017 – 12:53 pm

On Wednesday, Republican Congressional leaders and the Administration released their tax framework. “This ‘plan’ amounts to a package of tax cuts for Wall Street and the 1%” …

TOWS Joint Statement: Groups demand Wall Street pay its fair share in taxes
September 19, 2017 – 5:01 pm

Washington DC – On Tuesday, groups with the Take on Wall Street campaign made their voices heard outside a Senate Finance Committee hearing, opposing tax cuts for millionaires, billionaires, and wealthy corporations, and demanding that …

Joint Statement: House Approves Special Protections for Payday Lenders
September 15, 2017 – 2:27 pm

“The vote [came] during the debate over the Financial Services and General Government bill, which funds some basic functions of the federal government, including the Treasury Department… Rep. Keith Ellison (D-Minn.) introduced an amendment to take this language out of the appropriations bill and continue to allow the CFPB to regulate payday lenders as it regulates all financial services businesses. The amendment failed with four Republicans joining Ellison to protect borrowers and three Democrats choosing to side with payday predators.”