AFR Statement: Banks Require Forced Arbitration But Won’t Defend It Publicly
Bankers response to Sen. Elizabeth Warren about use of forced arbitration and cite tired, old arguments. But they won’t say publicly they want the CFPB’s rule reversed.
Category Archives: Press Releases
AFR Statement: Oppose Bills on Credit Scoring, Debt Collection, Fed Supervision
AFR opposes bills being considered by the House Financial Services Committee that are giveaways to credit bureaus, debt collectors and large banks.
AFR Statement: Oppose Quarles and Otting Nominations as Bank Regulators
The Senate should reject the Trump nominees for vice-chair of the Federal Reserve Board, Randal Quarles, and the Comptroller of the Currency, Joseph Otting.
AFR Statement: DeVos Decision to stop working with the CFPB is a betrayal of students and a boon to bad actors
The Department of Education’s decision to end information sharing with the Consumer Financial Protection Bureau (CFPB) is a betrayal of students and a boon to loan servicers with a history of preying on those students.
AFR Statement: Dismantling the gainful employment rule will unleash a new wave of waste, fraud, and abuse
“The Department of Education’s action today to eviscerate the Gainful Employment rule is a yet another example of Secretary Betsy DeVos working for wealthy for-profit college executives instead of students striving for a better life,” said Alexis Goldstein, Senior Policy Analyst at Americans for Financial Reform.
AFR Statement: CFPB Right to Act Against Forced Arbitration
CFPB issued a final regulation ensuring that consumers can join together to challenge financial fraud and scams in court. The rule limits the use of forced arbitration, a process Wall Street banks and predatory lenders use to evade accountability and keep their misconduct out of the public eye.
AFR Statement: Oppose Giveaways to Wall Street and Predatory Lenders in Appropriations Bill
It would gut the Consumer Financial Protection Bureau, enable reckless behavior by big banks, and hand a special favor to payday lenders. Lawmakers should reject this legislation out of hand.
AFR Statement: Oppose OCC Bid to Control Consumer Protection
The OCC’s proposals would directly weaken financial regulatory protections and push aside other agencies so the OCC could take critical guardrails off of Wall Street on its own
AFR Statement: DeVos Decision to Delay Borrower Defense is a Slap in the Face to Students
Americans for Financial Reform strongly condemns the decision by Secretary of Education Betsy DeVos to abandon the victims of predatory colleges by delaying the Borrower Defense rule. This is a slap in the face to defrauded Americans, and a stunning admission by the Department of Education that they intend to place wealthy for-profit college executives ahead of students striving for a better life.
AFR Statement: Treasury Report Pushes Rollbacks for Wall Street and Predatory Lenders
Treasury proposal advances ideas that have been pushed by industry lobbyists since Dodd-Frank was passed. We need more effective regulation and enforcement, not rollbacks driven by Wall Street and predatory lenders.