Category Archives: Statements and Press Releases

News Release
Trump Administration Reverses Lawsuit Against Egregiously Racist Lender

The Trump administration’s decision to reverse an already settled lawsuit against a Chicago mortgage lender over a pattern of failing to serve Black neighborhoods and egregiously racist conduct is an unprecedented attack on the nation’s laws against discrimination in financial services, according to a new analysis from Americans for Financial Reform. 

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Blog
Trump CFPB Reverses Townstone Discriminatory Lending Settlement 

In an astounding first, the Trump-appointed leadership of the Consumer Financial Protection Bureau has  requested that a federal court reverse a racial discrimination settlement that the agency had previously reached with Townstone Financial, a Chicago-based mortgage lender. 

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News Release
Housing Agency’s Disregard for Growing Climate Risk Will Only Deepen the Housing Affordability Crisis

Tuesday afternoon, Federal Housing Finance Agency (FHFA) Director Bill Pulte sent out a flurry of orders via tweets containing photographs of documents, including rescission of its Advisory Bulletin on Climate-Related Risk Management (Climate Risk AB)  and waiver of Equitable Housing Finance Plan (EHFP) requirements for Fannie Mae and Freddie Mac (the Enterprises).

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News Release
Senate Majority Betrays Consumers By Siding with Big Banks on Overdraft Fees

The Senate majority advanced the agenda of the nation’s biggest banks by voting for a Congressional Review Act resolution to roll back the Consumer Financial Protection Bureau’s (CFPB) cap on sky-high overdraft fees. The CFPB safeguard would lower these charges at big banks from $35 to $5, saving families and service members across the nation $5 billion each year, or roughly $225 per household impacted by overdraft fees. 

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News Release
Consumer and Investor Protection Organizations Denounce the Weakening of Shareholder  Rights by Delaware Legislature

The passage of Delaware Senate Bill 21 – the Billionaires’ Bill – endangers the retirement  security of millions of families across the country. A coalition of consumer and investor groups  including Public Citizen, Americans for Financial Reform, and the Consumer Federation of  America opposed the legislation as did the largest retirement funds in the United States. 

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sign for the CFPB outside a building

Statement
AFR Submits Statement for the Record for House Hearing Attacking the CFPB

Congress created the Consumer Financial Protection Bureau to prevent another financial crisis, and for the past 14 years it has diligently served the public, held financial firms accountable, cracked down on junk fees, and protected people from financial rip-offs. The vehemence of the Wall Street, Big Tech, and predatory financial industry’s attacks on the CFPB are a testament to its effectiveness in successfully standing up for people.

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