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AFR Statement: Statement on Passing of Deadline to Roll Back CFPB Payday Rule
May 17, 2018 – 11:12 am

“Congress has done the right thing in allowing the rule to stand. Now the spotlight is on Mick Mulvaney. Will he move ahead on his plans to unravel it, and continue to cater to the payday lenders who gave generously to his campaigns?” said Lisa Donner, executive director at AFR.

Stop the Debt Trap Statement: Mulvaney Continues to Let Payday Lenders Off the Hook
March 26, 2018 – 4:48 pm

“‘The temporary head of the consumer bureau is taking a wrecking ball to consumer protections,’ said José Alcoff, Payday Campaign Manager at Americans for Financial Reform. ‘Mulvaney should let the bureau do its job to enforce the law and win back tens of millions in refunds for consumers scammed by this company, instead of shamelessly using his role at the consumer bureau to help payday lenders.'”

AFR Release: New Report Documents Deepening Links Between Payday Lending and Private Equity
December 15, 2017 – 7:43 am

Private equity moguls have invested heavily in the payday and installment lending. The development puts private equity firms in the position to profit from efforts by payday lenders to roll back an important new rule by the Consumer Financial Protection Bureau.

AFR Report: Payday Lending and the Private Equity Business
December 15, 2017 – 7:37 am

New report offers details on over 20 cases of private equity investment in payday lending, and how the new owners or investors seek greater rewards from this predatory business.

AFR Statement: Congressional Move Is a Sellout to Payday Loansharks
December 1, 2017 – 1:18 pm

“Attempts to roll back this protection for consumers are nothing more than a sellout to the predatory payday lenders who want to continue to enrich themselves by trapping people in a painful cycle of debt. Congress should reject this and other attempts by payday lenders to undo a common sense rule based on the common sense principle of ability to repay.”

AFR Statement: CFPB Right to Act Against Forced Arbitration
July 10, 2017 – 3:55 pm

CFPB issued a final regulation ensuring that consumers can join together to challenge financial fraud and scams in court. The rule limits the use of forced arbitration, a process Wall Street banks and predatory lenders use to evade accountability and keep their misconduct out of the public eye.

AFR in the News: How Predatory Payday Lenders Plot to Fight Government Regulation
August 20, 2016 – 2:15 pm

“VICE has obtained exclusive transcripts of this year’s annual meeting of the Community Financial Services Association of America… at the Atlantis Paradise Island Resort. That’s where lenders were taught exactly what it might take to beat back an existential threat to their business. Trapping people in unaffordable debt is ‘their business model,’ said Gynnie Robnett [of] Americans for Financial Reform… ‘And they seem determined to preserve it, any weasel-y way they can.'”