Tag Archives: House

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News Release: Civil And Consumer Rights Advocates Applaud House Passage Of Consumers First Act

“An effective consumer financial protection agency saves families billions of dollars a year, and makes their economic lives more secure. It fights lending discrimination, and shuts down tricks and traps” said Lisa Donner, executive director of Americans for Financial Reform. “Unfortunately, the evidence keeps piling up that the current leadership at the agency is focused on rolling back protections and enabling bad financial actors to rip people off. It is so important that members of Congress continue pressing the CFPB to live up to its consumer protection mandate and fulfill its basic responsibilities, as the House has in passing the Consumers First Act today.”

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News Release: Fall 2018 Congressional Voting Record on Where They Stand on Financial Reform

Ten years after the financial crisis, a majority of members of Congress have voted again and again for bills pushed by the bank lobby that are dangerous for our financial stability, undermine consumer and investor protections, and enable racial discrimination in lending. The report, entitled “Where They Stand on Financial Reform,” lays out how each lawmaker voted.

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House-Passed Bill Would Roll Back Derivatives Reform

The House vote to approve this legislation, largely written by Citibank lobbyists, reminds us that Wall Street is still doing everything in its power to protect the status quo that caused the financial crisis… The good news is that 122 House members voted No this time. What started out as a backroom deal between bank lobbyists and legislators wound up being an uncomfortable vote for the dealmakers. That makes it much less likely that the Senate will act, and more likely that the swaps push out provision will finally be implemented.

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AFR Letter Opposing Legislation That Would Weaken the CFPB

AFR sent a letter to members of Congress yesterday regarding a piece of legislation that would threaten the ability of the CFPB to sufficiently protect consumers. If enacted, this bill would virtually guarantee that the CFPB would be a weak and timid agency without the will or ability to curb the kind of financial abuses that caused the nation’s worst financial crisis since the Great Depression.