Home » Archive by Tags

Articles tagged with: CFPB

AFR Statement: AFR Applauds Resolution of Class-Action Lawsuit Against Wells Fargo
March 29, 2017 – 8:39 am

Public Citizen and Americans for Financial Reform applaud the announcement of a proposed $110 million settlement for consumers harmed by the bank’s fraudulent account scheme in multiple class-action lawsuits against Wells Fargo.

Written Testimony: The CFPB’s Structure is Constitutional and Effective
March 21, 2017 – 10:00 am

“The first five-and-a-half years of the CFPB’s history has vindicated the decisions that Congress made in 2010 to create a strong independent agency to protect consumers from fraud and abuse in the financial marketplace. …It’s action have begun to reform the industry by making banks andother financial services companies more attentive to consumers’ rights…”

Letter to Regulators: 34 Organizations Call For Stronger Protections For Consumers with Limited English Proficiency Against Abusive Debt Collection
March 20, 2017 – 5:09 pm

This letter addresses the CFPB’s proposal related to increasing access to the Fair Debt Collection Practices Act’s protections for Limited English Proficient (LEP) consumers. …Many of these individuals participate in the consumer credit marketplace, but may have greater difficulty navigating the market, especially when debts go into collection and consumers face the legal implications of unpaid debt.”

AFR Statement: House Bill Would Let Banks and Lenders Keep Ill-Gotten Gains
March 10, 2017 – 11:20 am

“The House passed legislation to effectively kill class action lawsuits, which are often consumers’ only chance to fight back against repeated corporate fraud and scams… ‘If this bill becomes law, those ill-gotten gains will instead be used to pad Wall Street’s bottom line,’ said Lisa Donner, Executive Director of Americans for Financial Reform… ‘H.R. 985 gives banks and lenders a license to steal and encourages more scandals like Wells Fargo’s fake account opening.'”​

AFR Report: Wall Street Lobby and Campaign Cash Tops $2 Billion for 2016 Elections
March 8, 2017 – 7:38 am

During the 2015-16 election cycle, Wall Street banks and financial interests spent more than $2 billion to influence decision-making in Washington, according to a report released today by Americans for Financial Reform. That total, derived from an exclusive data set, works out to more than $2.7 million a day.

AFR Statement: Hensarling Budget Plan Delights Wall Street But Hurts Everyone Else
March 1, 2017 – 9:06 am

The chairman’s opening move in this year’s budget debate might delight Wall Street, but it would make life harder and more dangerous for the rest of us. His plans would make it easier for big banks and predatory lenders to rip off their customers, and easier for Wall Street billionaires to crash the economy — again.

Letters to Regulators: 17 Organizations Comment on CFPB Request for Information Regarding Consumer Access to Financial Records
February 21, 2017 – 6:12 pm

“…The digital economy should ensure consumers can access and use records about themselves, and that consumers can choose to authorize third-parties to access such data on their behalf to support their financial health and facilitate competition among financial services providers.”

AFR in the News: Trump Said to View Consumer Watchdog as ‘Unaccountable’ (Wall St. Journal)
February 21, 2017 – 10:36 am

“Consumer advocates pushed back against Mr. Trump’s statement. ‘Directory Cordray has been an effective and responsible head of the CFPB,’
said Lisa Donner, executive director of Americans for Financial Reform. ‘Under his leadership it has been accountable to the American people, delivering over $12 billion in relief for more than 29 million people, a publicly searchable complaint system, and rules of the road to make lending fairer.’”