FOR IMMEDIATE RELEASE DATE: May 5, 2010 Americans for Financial Reform (AFR), including nation’s leading consumer groups, opposes the Shelby substitute (amendment #3826) to replace Title X of S. 3217, RAFSA, the Consumer Financial Protection Bureau, with a weak alternative VOTE NO, NO INDEPENDENCE, NO FUNDING
Read FAQs about the SAFE Banking Act here – see page 3 (pdf). Our financial system has become dominated by institutions that are “too big to fail.” Moreover, as FDIC Chairman Bill Isaac has said, they are “too big to manage, and too big to
Americans for Financial Reform and our 250 coalition partners applaud the Senate for rejecting – on a bipartisan basis – the sham that was Sen. Shelby’s “consumer” amendment to the Wall Street accountability currently being debated in the U.S. Senate. Click here for a recording
Visit this page on the U.S. PIRG website for a list of likely amendments to S. 3217, the Restoring American Financial Stability Act of 2010. The Senate is currently debating the bill and these amendments. PIRG also explains which amendments are in the public interest,
COMMODITY MARKETS OVERSIGHT COALITION An Alliance of Derivatives End-Users & Reform Advocates May 4, 2010 The Honorable Harry Reid Majority Leader, U.S. Senate 522 Hart Senate Office Building Washington, DC 20510 The Honorable Mitch McConnell Minority Leader, U.S. Senate 361A Russell Senate Office Building Washington,
Preemption-Analysis of Senate provision
CFPA AG Enforcement
Oppose the Brownback amendment to exempt auto dealers from the CFPB. Data from several nationwide cases against the major auto lenders settled by the National Consumer Law Center and co-counsel from 2003 to 2007 showed widespread racial disparities, unrelated to credit risk, in the markups added by
Car Dealers Are Lenders/Creditors When the Consumer Gets both the Car and the Financing from the Dealer See this PDF for an example of a car loan. For the millions of consumers who get both the vehicle and financing at the dealership, auto dealers are “creditors.”