Press Releases Archives - Page 4 of 30 - Americans for Financial Reform

News Release: As Supreme Court Considers Argument to Defang the Watchdog, a New Poll Shows Wide, Bipartisan Support for CFPB

WASHINGTON, D.C. – Following oral arguments made before the U.S. Supreme Court on the future of the Consumer Financial Protection Bureau (CFPB), a new poll – commissioned by the Center for Responsible Lending and Americans for Financial Reform and released today – shows overwhelming support from Republican, Democratic, and independent voters for the CFPB’s mission and for the Bureau to establish several new consumer protections.

News Release: Antitrust Agencies Must Boost Scrutiny of Private Equity Buyouts

New merger guidelines should confront the powerful and often insidious role played by Wall Street private equity in fostering monopolization across the American economy, according to a letter submitted by Americans for Financial Reform Education Fund. The letter, sent to the Department of Justice and the Federal Trade Commission, outlines concrete steps that authorities can take to combat the anti-competitive influence that private equity buyouts have had on industries as diverse as health care, retailing, fast food, and automotive services.

Media Conversation with Legal Experts to Preview Upcoming CFPB v. CFSA, at Supreme Court

Washington, D.C. – On Wednesday, Sept. 23 at 2 pm ET, Americans for Financial Reform (AFR), the Constitutional Accountability Center, and the Center for Responsible Lending (CRL) will host a press call to preview one of the most important cases coming before the Supreme Court this term: CFPB v CFSA, a constitutional challenge to the funding structure of the Consumer Financial Protection Bureau (CFPB). Sign up for the call at this link.

News Release: Affirmation of DOJ Role in Bank Mergers a Welcome Change

Washington, D.C. – The announcement by Assistant Attorney General Jonathan Kanter that the Department of Justice is willing to block bank mergers even after they have been approved by their primary regulators represents a welcome sea change after decades in which government authorities waved through consolidation in this industry.

News Release: Consumer Groups Urge Supreme Court to Uphold the Constitutionality of the CFPB

The Fifth Circuit’s radical and unprecedented decision in the case of CFPB vs. CFSA, if confirmed, would undermine the critical work carried out by the CFPB in protecting consumers and enforcing regulations on Wall Street and predatory lenders, according to an amicus brief filed by consumer advocates.

News Release: Famous Last Words – What the Bank CEOs Told Congress in 2018 to Get Deregulation

As the former CEOs of failed banks prepare to testify before Congress, consider the self-serving statements that bank executives, lobbyists and lawmakers uttered to grease passage of banking deregulation legislation in 2018. “SVB, like our mid-sized bank peers, does not present systemic risks,” Greg Becker, the CEO of Silicon Valley Bank insisted, about five years before federal authorities declared his bank a systemic risk.

News Release: New CFPB Guidance Defines Abusive Industry Conduct

Washington, D.C. — The Consumer Financial Protection Bureau (CFPB) today issued a policy statement on how it defines prohibited abusive conduct against consumers.

News Release: CFPB Proposed Rule will Bring Accountability for Financial Corporations

Washington, D.C. — The Consumer Financial Protection Bureau (CFPB) proposed rulemaking to require that regulated nonbank entities annually register with the CFPB regarding their use of specific terms and conditions in form contracts for consumer financial products and services, will reinforce the agency’s ongoing efforts to bring transparency and accountability on how financial industries operate, according to Americans for Financial Reform Education Fund and consumer coalition advocates.

News Release: Broad, Independent Probe of Fed Failings on Bank Crisis Essential

A successful independent investigation into the failure of the Federal Reserve to prevent the failure of Silicon Valley Bank and the current banking crisis must have a broad scope and the authority to collect and make public the evidence from the probe, according to Americans for Financial Reform.

News Release: House Financial Services Republicans Squander Opportunity to Hold Crypto Industry Accountable

Washington, D.C. — The House Financial Services subcommittee hearing today on digital assets should have been an opportunity to identify critical actions Congress and regulators should take to address the fallout of the crypto crash, but consumer advocacy groups fear the hearing will take a very different direction instead.