Category Archives: Education Fund

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News Release: In Comprehensive Official Comment Letter, Broad Coalition Rebukes Trump-Appointed CFPB Director’s Plan To Gut Payday Loan Rule

Americans for Financial Reform Education Fund, as part of a coalition of civil rights, consumer, and labor groups, submitted an official comment letter to the Consumer Financial Protection Bureau excoriating CFPB Director Kathy Kraninger’s proposal to gut a 2017 rule that was issued to stop payday loan debt traps. The coalition’s comment letter, submitted on the last day of the comment period, is a comprehensive rebuttal to Kraninger’s rationales for rolling back consumer protections on payday loans.

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Joint Letter: Letter to FHFA on Language Access

On April 18, 2019, AFR’s Language Access Task Force and several organizations sent a letter to the Federal Housing Finance Agency in support of its efforts to improve language access for Limited English Proficient borrowers. View or download a pdf copy of the letter.

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AFR-CEPR Research: Small Donations Show Growing Power of Grassroots Vs. Wall Street

New members of Congress demonstrated substantially less reliance on money from the financial services industry than incumbents who won re-election in 2018. First-term Democratic members of the House raised, on average, 17 percent of the money for their campaign committees from small donors, compared with 9.4 percent by Democratic incumbents who won re-election.