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Articles tagged with: CFPB

AFR Statement: Oppose OCC Bid to Control Consumer Protection
June 23, 2017 – 3:56 pm

The OCC’s proposals would directly weaken financial regulatory protections and push aside other agencies so the OCC could take critical guardrails off of Wall Street on its own

AFR in the News: House wants to deregulate Big Banks again (Pekin, Ill. Daily Times)
June 16, 2017 – 4:46 pm

“‘This legislation takes the worst ideas concocted by Wall Street and predatory lenders, and combines them into one toxic package,” [Lisa Donner, director of Americans for Financial Reform] said. ‘The bill is crammed with deregulatory gifts to the entire industry, including megabanks that want to return to the excessive borrowing and risky practices that led to the financial crisis.’”

AFR in the News: Mnuchin calls for major rollbacks of Dodd-Frank (LA Times)
June 14, 2017 – 4:46 pm

“‘We need more effective regulation and enforcement, not rollbacks driven by Wall Street and predatory lenders,’ said Lisa Donner, executive director of Americans for Financial Reform, a group advocating tougher oversight of the financial system. The report, which included dozens of recommendations, is the first of three ordered by Trump as he looks to fulfill a campaign promise to dismantle the Dodd-Frank Wall Street Reform and Consumer Protection Act.”

AFR Statement: Treasury Report Pushes Rollbacks for Wall Street and Predatory Lenders
June 12, 2017 – 7:08 pm

Treasury proposal advances ideas that have been pushed by industry lobbyists since Dodd-Frank was passed. We need more effective regulation and enforcement, not rollbacks driven by Wall Street and predatory lenders.

AFR in the News: Bill to Erase Some Dodd-Frank Banking Rules Passes in House (NY Times)
June 9, 2017 – 9:26 am

“’It’s a bill that’s so harmful to vast swaths of the American public…,’ said Lisa Donner, executive director of Americans for Financial Reform. “It would make it easier for predatory lenders to rip people off. It would make it easier for Wall Street to keep taking $17 billion out of retirees’ pockets by repealing the fiduciary rule. It would make it easier for big Wall Street banks to take the kind of risks in pursuit of short-term gains that go directly to the pockets of the tiny handful of people at the top that led to the financial crisis.’”

AFR in the News: House Poised to Pass Bill Taking Aim at Dodd-Frank Regulations (NY Times)
June 8, 2017 – 10:16 am

“’This legislation would be better dubbed Wall Street’s Choice Act as it would have a devastating effect on the ability of regulators to protect consumers and investors from Wall Street exploitation and the economy from financial risks created by too-big-to-fail megabanks,’ Marcus Stanley, policy director at Americans for Financial Reform, wrote in a letter to Congress on Wednesday.”

AFR Statement: CHOICE Act a Sellout of Ordinary Americans
June 6, 2017 – 10:16 am

“Putting the greed of campaign contributors ahead of the public interest, lawmakers are preparing to take a wrecking ball to reforms that addressed a devastating financial crisis and recession.”

AFR in the News: Buried deep within GOP bill: ‘free pass’ for payday and car-title lenders (LA Times)
May 30, 2017 – 10:47 am

“According to the advocacy group Americans for Financial Reform, payday and title lenders spent more than $15 million on campaign contributions during the 2014 election cycle. The top recipient, with nearly $224,000 in donations from the industry, was the National Republican Congressional Committee. The largest individual recipient, with $210,500 in payday and title loan cash, was — you guessed it — Hensarling.”