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Articles tagged with: CFPB

AFR in the News: Wells Fargo Scandal Helps Consumer Advocates in CFPB Rule Fight (Bloomberg BNA)
August 14, 2017 – 5:39 pm

“Consumer groups are invoking Wells Fargo as they seek to persuade a handful of Republican senators to help defeat a potential September vote on a resolution blocking the arbitration rule. ‘We’ve definitely pointed to Wells Fargo as pretty much the poster child for why we need this rule,’ Amanda Werner, campaign manager at consumer groups Americans for Financial Reform and Public Citizen, told Bloomberg BNA.”

AFR in the News: New U.S. rule on class actions survives first challenge (Reuters)
August 2, 2017 – 4:16 pm

“A new U.S. rule aimed at restoring consumers’ ability to band together to sue financial companies has survived its first challenge, as a top banking regulator on Monday said he would not petition for it to be suspended… ‘The rule is a well thought-out response to the serious consumer harm of forced arbitration,’ said Brian Marshall, policy counsel for advocacy group Americans for Financial Reform.”

AFR Statement: House Vote on CFPB Forced Arbitration Rule a Victory for Big Banks and Predatory Lenders
July 25, 2017 – 5:25 pm

House vote to roll back CFPB rule limiting forced arbitration aids big banks and predatory lenders while stopping ordinary Americans from getting their day in court.

AFR Statement: House Lawmakers Voting to Roll Back CFPB Forced Arbitration Rule Defy Public Sentiment
July 25, 2017 – 11:49 am

In a tough test for the public’s view of the rule, likely voters concluded the rule helps hold companies accountable, and rejected notions that it will encourages frivolous lawsuits.

AFR/CRL Poll: Bipartisan, National Majorities Support CFPB Rule Curbing Forced Arbitration
July 25, 2017 – 10:27 am

Strong, bipartisan majorities nationwide back the Consumer Financial Protection Bureau’s rule curbing forced arbitration and giving consumers their day in court.

AFR/CRL Polling Memo: Fifth Consecutive Year of Broad Backing of CFPB and Wall Street Reform
July 18, 2017 – 8:36 am

For 5 years, Lake Research Partners and Chesapeake Beach Consulting have polled the public on Wall Street reform. For 5 years running, they have found broad, bipartisan support for the goals of the Dodd-Frank law — and more.

AFR/CRL Poll: Strong Bipartisan Support for Financial Regulation and CFPB
July 18, 2017 – 8:35 am

The 2017 AFR/CRL poll reveals strong, bipartisan support for further regulation of Wall Street, and widespread agreement with the mission of the Consumer Financial Protection Bureau.

AFR In the NEws: Divide Between Financial Regulators Appointed by Trump, Obama Widens (Reuters)
July 17, 2017 – 4:43 pm

The political fissure between an Obama-appointed financial overseer and regulators hired by U.S. President Donald Trump is widening, with Consumer Financial Protection Bureau (CFPB) Director Richard Cordray threatening to challenge in court any attempt to kill his agency’s new arbitration rule. To overturn a CFPB rule, two-thirds of the FSOC must agree that it puts the whole banking system at risk. “It’s an extraordinarily high standard,” said Brian Marshall, policy counsel for Americans for Financial Reform, a Washington-based advocacy group. “It’s ludicrous that the arbitration rule would meet that standard.”