Statements and Press Releases Archives - Page 45 of 85

Joint Letter: Public Interest Groups Urge Financial Industry Leaders to Call a Halt to Anti-Investor Tactics of Trade Associations Seeking to Overturn DOL Protections for Retirement Savers

“Financial services companies that support giving retirement investors investment advice that is in their best interests should stand up against the aggressive anti-investor lobbying tactics of their trade associations seeking to overturn the Department of Labor’s (DOL) conflict of interest rule, according to three national organizations that have supported DOL efforts to strengthen protections for retirement savers.”

AFR Statement: Attack on common-sense rules for prepaid cards

“The Consumer Bureau’s continued progress on making financial markets fairer and safer confirms once again how important it is to have an independent and effective regulator with a consumer protection mission. The rule making prepaid cards fairer and safer is one more example of ‘unrigging’ the system for the American people, and it should be left in place.”

AFR Statement: Trump Hands Financial Regulation Over To Wall Street

We can, and will, fight at every step against Wall Street burning it all down — again. And we’ll fight for a financial system that serves an economy that works for the rest of us.

AFR Statement: We Need Straight Answers from Treasury Nominee

“Mnuchin’s failure to answer questions from committee members fully and honestly is one more example of an all too familiar Wall Street pattern: that rules are for little people. That is not an acceptable approach for a Treasury Secretary. Demanding answers before this nomination is rammed through is exactly the right thing to do.”

Joint Press Release: Google Takes Down Over Five Million Payday Loan Ads

“Along with fake prescription drug peddlers, scam weight loss regimes, and sneaky malware spreaders, Google has taken down 5 million attempts to trap Americans in predatory loans since mid-July… ‘While Google’s actions are helpful and important, an internet company cannot be the main barrier to abuse by these predators. The Consumer Financial Protection Bureau is working on smart, fair and flexible rules that, if finalized, will protect Americans from the worst abuses of payday lending. .. [I]t must not be undermined or weakened by the payday industry and their allies who want to keep getting away with debt trap 300% loans.’”

Press Release: Final Voting Record Issued for 114th Congress

“The AFR Advocacy Fund has released its final voting record for the 114th Congress. ‘Where They Stand on Financial Reform’ tracks more than 70 bills, amendments, and resolutions that, during the years 2015 and 2016, gave House members and Senators a chance to protect investors, consumers, borrowers and the stability, transparency, and accountability of the financial system, or, on the other hand, to make it easier for banks and lenders to inflate their profits at the economy’s and the country’s expense.”

Joint Press Release: Consumer Advocates Join Fight to Protect CFPB in Court

“‘We are committed to protecting the CFPB’s independence, which is essential to stopping Wall Street and predatory lenders from fleecing American consumers. Director Cordray has been an effective and tireless leader of the CFPB and should serve his full five-year term without the threat of removal by Trump at the behest of industry lobbyists,’ said Lisa Donner, Executive Director of Americans for Financial Reform.”

Press Release: More than 25% of consumers contacted by debt collectors feel threatened, CFPB reports

“In tens of millions of cases, debt collectors reportedly engaged in conduct barred by the Federal Debt Collections Practices Act. Nearly 40 percent of consumers reported that a debt collector had attempted contact four or more times a week. More than one third of consumers reported being contacted between 9 pm and 8 am. Three in four consumers said that debt collectors had failed to honor a request to cease contact.”

AFR Press Release: Senator Warren Calls for a Mass Mobilization

“‘It’s time to send a message to big banks, payday loan lobbyists, and their Republican friends in Congress: the American people are watching,’ Senator Elizabeth Warren (D-Mass.) told a telephone audience of nearly 3,000 fired-up activists last night. ‘We’re going to fight back against any efforts to gut financial reform and to allow big banks and shady financial institutions to once again cheat consumers and put our economy at risk.’”

Joint Press Release: CFPB Taps Former Pentagon Legal Official to Head Office of Servicemember Affairs

“Mr. Kantwill’s appointment, along with the retirement of Holly Petraeus, who has led the Servicemember Affairs office for the past five years, highlights the CFPB’s extensive work on behalf of military personnel, veterans, and their families, long a favorite target demographic for financial predators.”