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Articles tagged with: CFPB

AFR Statement: Budget Takes Aim at CFPB and Student Loan Holders
May 23, 2017 – 10:52 am

“Without exception, the proposals we’ve seen to de-fund or restructure the Consumer Financial Protection Bureau are about making it less effective at doing its job,” said Brian Marshall, policy counsel at AFR. “The agency has won relief worth $12 billion for 29 million Americans since it started work. All these proposed changes to the CFPB would do is make it easier for Wall Street and assorted predatory lenders to rip people off.”

AFR in the News: Consumer advocates press Congress to keep CFPB intact (MarketWatch)
May 15, 2017 – 9:33 am

“More than 100 members of organizations… met with government officials of both parties and their staffs to lobby against several laws proposed recently… Brian Simmonds Marshall, policy counsel for Americans for Financial Reform, [said] , ‘We were very glad we had so many consumer advocates in Washington when these crucial issues to consumer protection are being actively considered by Congress…’”

Joint Statement: Prepaid Card Protections Escape Congressional Veto
May 12, 2017 – 2:15 pm

“‘This rule will give consumers, including people who rely on prepaid debit cards instead of a bank account, the basic protections they need to manage their finances more safely and securely,’ said Lisa Donner, executive director at Americans for Financial Reform. ‘When people learned it was under threat, they made the case that this rule is important and workable, and it looks like enough lawmakers paid attention.'”

Joint Statement: Over 400,000 Call on Congress to Defend the CFPB
May 10, 2017 – 9:00 am
Joint Statement: Over 400,000 Call on Congress to Defend the CFPB

Today, a coalition of organizations representing workers, students, consumers, and borrowers delivered a petition with over 400,000 signatures calling on Congress to defend the crucial work of the Consumer Financial Protection Bureau.

Joint Letter: AFR Joins 15 Organizations Praising, Pressing CFPB on Discriminatory Credit Practices
May 5, 2017 – 10:21 am

“We welcome the CFPB’s update of Regulation B, which implements the ECOA, and have joined in the comprehensive comments filed by the National Community Reinvestment Coalition. More changes are needed to Regulation B, however, to give consumers stronger protections against discrimination in the credit marketplace.”

AFR Testimony: Reject Wall Street’s CHOICE Act
April 28, 2017 – 12:27 pm
AFR Testimony: Reject Wall Street’s CHOICE Act

“This legislation would be better dubbed ‘Wall Street’s CHOICE Act,’ because it would have a devastating effect on the capacity of regulators to protect the public interest and defend consumers from Wall Street wrongdoing and the economy from risks created by too-big-to-fail financial institutions.” — testimony at House Financial Services Committee hearing, April 26

AFR in the News: How Consumer Financial Protections Could Be Rolled Back (Consumer Reports)
April 28, 2017 – 10:53 am

“‘The level of venom directed at the Consumer Financial Protection Bureau, an agency that is successfully carrying out its mission of preventing tricks and traps that harm American families, is astounding,’ said Lisa Donner, executive director of Americans for Financial Reform, a nonpartisan and nonprofit coalition of consumer and other citizen groups. ‘The changes proposed by the legislation only make sense if you want to weaken consumer protections and make it easier for Wall Street, and predatory lenders, to profit by cheating people.’”

Letter to the Regulators: AFR, 31 Orgs Support the CFPB’s Student Loan Servicer Data Collection
April 24, 2017 – 4:14 pm

AFR and 30 other organizations sent a sign-on letter to the Consumer Financial Protection Bureau in support of their proposed student loan servicing data collection initiative. Compiling such metrics and borrower outcomes would benefit market participants, federal and state agencies, policymakers, and borrowers. Obtaining a clearer view of the student loan market overall will help inform all market participants on how best to serve student loan borrowers.