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Joint Letter: Letter to the CFPB on Data Collection
January 14, 2019 – 10:12 am

AFR Education Fund was among the 18 organizations that submitted these comments responding to the CFPB’s RFI on data collection on December 27, 2018. You can view or download pdf of the letter here.

AFR And NCLC Statement: Advocates Urge Consumer Bureau To Protect Consumers From Abusive Debt Collectors
December 20, 2018 – 9:40 am

Advocates from 74 national and state advocacy groups sent a letter yesterday afternoon to new Consumer Financial Protection Bureau Director Kathy Kraninger urging the bureau to focus on protecting consumers from abusive debt collection practices in anticipation of a proposed debt collection rule expected in March 2019.

Joint Letter: Specific Recommendations To Protect Consumers Through Ongoing Rulemaking On Debt Collection
December 20, 2018 – 9:37 am

As we approach the fifth year anniversary of the proposed rulemaking on debt collection, and the regulatory process appears to be moving forward, the 74 undersigned consumer, community, civil rights, faith, labor and legal services groups write to urge the Consumer Financial Protection Bureau (“Consumer Bureau”) to focus on protecting consumers from abusive debt collection practices in any rule that it issues.

AFR Statement: Extralegal ‘No-Action Letter’ Policy Would Exempt Industries From Basic Supervision And Enforcement
December 14, 2018 – 12:17 pm

In Mick Mulvaney’s final hours as acting director, the Consumer Financial Protection Bureau (CFPB) proposed two policies that put consumers at gravely increased risk of the very harm the CFPB is supposed to prevent.

AFR Statement: ‘Aye’ Votes On Kraninger Expose American Families To Greater Wall Street Abuse
December 6, 2018 – 2:18 pm

The Senate majority has endorsed a CFPB nominee indistinguishable from Mick Mulvaney, who has done his level best to dismantle from within an agency that once won real results for American families hurt by Wall Street and predatory lenders. Kraninger has no track record at all of consumer protection, or of standing up for vulnerable people.

AFR Statement: Senators Must Reject Kraninger Nomination
November 29, 2018 – 2:18 pm

Kathy Kraninger has put no daylight whatsoever between herself and Mick Mulvaney, who has done his level best to dismantle from within an agency that once won real results for American families hurt by Wall Street and predatory lenders. He has subverted, not advanced, the mission of consumer protection for which Congress created the CFPB.

AFR Statement: Mulvaney Plan to Gut Payday Lending Rule Defies Common Sense
October 26, 2018 – 1:14 pm

The rule, which was years in the making, created vital protections for consumers of payday, car title, and some longer-term loans to ensure that predatory lenders don’t trap customers in unaffordable loans. Underlying the rule is the common-sense principle that lenders should consider whether borrowers have the ability to repay a loan before they risk their financial well-being.

AFR and NCLC Statement: CFPB Sandbox Proposal Would Deny Consumers Key Information
October 11, 2018 – 6:01 am

The CFPB is exceeding its authority under the law that created the agency and would set a dangerous precedent with its “disclosure sandbox” policy, its label for granting companies exemptions from disclosure rules. The CFPB would allow firms to obfuscate or eliminate important information in the name of “financial innovation,” a label often applied to defend practices in mortgage lending that led to the 2008 crisis.