AFR in the News Archives - Page 9 of 57 - Americans for Financial Reform

AFR in the News: Valdez: Hate predatory loans? Tell Congress to keep its mitts off this agency (Arizona Republic)

“The [Hensarling] bill ‘would make it easier for Wall Street megabanks – plus other mortgage lenders, payday lenders, credit card companies and debt collectors . . . to make windfall profits by cheating people or putting the stability of the financial system at risk.’ That’s… from an email blast [the National Consumer Law Center] sent out in conjunction with Americans for Financial Reform.”

AFR in the News: This case could have a huge impact on the future of a key consumer watchdog (Washington Post)

“When the CFPB was created in 2010 under the Dodd Frank Act, the appointment of an independent director was meant to help shield the agency from lobbying forces and powerful groups on Wall Street, says Brian Simmonds Marshall, policy counsel for Americans for Financial Reform…”

AFR in the News: Buried in Trump’s Budget, Another Attempt to Kill CFPB (Money Magazine)

“‘Without exception, the proposals we’ve seen to de-fund or restructure the Consumer Financial Protection Bureau are about making it less effective at doing its job,’ says Carter Dougherty, spokesman for Americans for Financial Reform… ‘All these proposed changes to the CFPB would do is make it easier for Wall Street and assorted predatory lenders to rip people off.'”

AFR in the News: Trump to propose scrapping beleaguered student loan forgiveness program (MarketWatch)

“Alexis Goldstein, a senior policy analyst at Americans for Financial Reform… described the idea of eliminating the program as ‘horrifying,’ noting that… borrowers are struggling to manage their student debt, pushing them to put off home-buying and other financial milestones. Eliminating a forgiveness program would only make that worse, she said. ‘It seems both ill-conceived from a policy perspective and just cruel.’”

AFR in the News: Mnuchin Said to Start Review That Could Ease Volcker Rule’s Bite (Bloomberg)

“At a closed-door meeting in Washington on Monday, Treasury Secretary Steven Mnuchin directed five key agencies to re-examine what’s permitted under the Volcker Rule… Marcus Stanley, policy director at Americans for Financial Reform, said he’s dubious that Volcker is handcuffing lenders. ‘You’re talking about banks that are making tens of billions a year on trading activity,” said Stanley, whose group supports aggressive oversight of Wall Street. “It doesn’t seem to me that they’ve exited the markets.’”

AFR in the News: Consumer advocates press Congress to keep CFPB intact (MarketWatch)

“More than 100 members of organizations… met with government officials of both parties and their staffs to lobby against several laws proposed recently… Brian Simmonds Marshall, policy counsel for Americans for Financial Reform, [said] , ‘We were very glad we had so many consumer advocates in Washington when these crucial issues to consumer protection are being actively considered by Congress…’”

AFR in the News: House Republicans Move to Gut Bank Regulations (NY Times)

“Progressive groups argued that the push to unravel Dodd-Frank was at odds with Mr. Trump’s populist campaign message that the economy was rigged in favor of corporate interests. ‘It is an enormous package of gifts for Wall Street and the worst actors in finance,” said Lisa Donner, executive director of Americans for Financial Reform, who said the bill House Republicans passed would increase the likelihood of another financial crisis.’ The banking industry’s top lobbyist, Rob Nichols, president of the American Bankers Association, cheered the committee’s vote.”

AFR in the News: Next On the House Republican Chopping Block: Post-Crisis Bank Regulations (Huffington Post)

“‘The [House Financial Services] committee has passed a bill that would give Wall Street and assorted predatory lenders a free hand to abuse consumers, and investors, and would increase the likelihood of another financial crisis,’ said Lisa Donner, executive director of the group Americans for Financial Reform. ‘It is an enormous package of gifts for Wall Street and the worst actors in finance.’”

AFR in the News: Demanding transparency and fairness from Trump tax plan (The Hill)

“What Americans want and will continue to demand is, of course, the exact opposite of what Trump’s tax plan represents. They want to see the loopholes closed and Wall Street paying more, not less. Senator Bernie Sanders and Representative Keith Ellison have proposed a sales tax on Wall Street transactions; that would be a good start. Working families pay taxes when they buy a car or a pair of shoes.”

AFR in the News: How Consumer Financial Protections Could Be Rolled Back (Consumer Reports)

“‘The level of venom directed at the Consumer Financial Protection Bureau, an agency that is successfully carrying out its mission of preventing tricks and traps that harm American families, is astounding,’ said Lisa Donner, executive director of Americans for Financial Reform, a nonpartisan and nonprofit coalition of consumer and other citizen groups. ‘The changes proposed by the legislation only make sense if you want to weaken consumer protections and make it easier for Wall Street, and predatory lenders, to profit by cheating people.’”