Taylor brings more than 30 years of experience fighting for economic and racial justice. She joins Lisa Donner in a new shared leadership structure aimed at enabling AFR to meet the challenge of the moment as billionaires wield unprecedented levels of power.
The Trump administration has joined a group of big banks in an effort to destroy a vital safeguard against credit card junk fees that would have saved consumers $10 billion per year. As documented by AFR’s Wall Street Ripoff Counter, every day this CFPB rule is not in place, credit card users lose $2.7 million. To date, the bank lawsuit and now the Trump administration actions have cost consumers over $8.3 billion.
Republicans on the House Financial Services Committee, led by Chair French Hill, sided with Wall Street banks and against hardworking families by voting on legislation to roll back a Consumer Financial Protection Bureau (CFPB) cap on sky-high abusive overdraft fees at $5.
A new poll shows Americans strongly support the CFPB’s mission as well as its rules lowering overdraft fees, tracking small business lending inequalities, and prohibiting medical debt from appearing on credit reports.
Today, over 100 community, civil rights, privacy, consumer, labor, technology, small business, and other organizations delivered a letter urging the U.S. Senate to oppose a resolution to rescind the Consumer Financial Protection Bureau’s (CFPB) digital payment app oversight rule.
The Trump-appointed CFPB leadership dropped its case against digital payment app Zelle, a joint venture between Wells Fargo, JPMorgan Chase, and Bank of America, delivering a de facto pardon to the company for failing to protect its users from fraud and identity theft that cost customers more than $870 million over seven years. The move comes only a day before the Republican Senate is expected to vote on legislation to permanently weaken oversight of digital payment apps.
Trump’s CFPB Drops Case Against Repeat Offender TransUnion For Bait-and-Switch Subscription Hustle TransUnion deceived millions into signing up for hard to cancel monthly subscriptions By Christine Chen Zinner Last week, the CFPB dropped 5 pending enforcement cases against companies that swindled or gouged consumers that
Senator Elizabeth Warren (D-Mass), the ranking member of the Senate Banking, Housing, and Urban Affairs Committee will host a forum today to investigate the Trump administration’s illegal efforts to dismantle the Consumer Financial Protection Bureau (CFPB).
The Trump administration’s plan to shut down CFPB headquarters is the latest unlawful attack on a government agency that truly works for people. Following mass purges, forcing staff onto administrative leave, slashing funding, freezing regulatory activity, and halting enforcement actions, this step is a blatant attempt to irreversibly shutter the agency in utter defiance of the law, even as the Trump administration is losing court cases for its overreach.
Today, the Consumer Financial Protection Bureau, which has been largely shut down by Elon Musk’s team and Acting Director Russell Vought, pulled the plug on a lawsuit against an online lender, SoLo Funds, that the agency had alleged was deceiving borrowers and imposing deceptive fees on more than half a million borrowers.