“We, the thirty-one undersigned organizations, are writing this letter in response to the Senate Banking Committee’s request for proposals to foster and improve economic growth. Our purpose in submitting this letter is to urge the Committee to reject any measures which weaken or remove controls on irresponsible financial practices in the name of supposed benefits
AFR joins 22 organizations in letter urging members of the Senate Banking Committee to oppose the nomination of Walter Joseph ‘Jay’ Clayton to serve as Chair of the Securities and Exchange Commission.
“We believe protections for student and taxpayers should be strengthened, not scaled back. …Veterans, low-income students and students of color have been disproportionately harmed by predatory colleges. Last month, 16 organizations representing millions of military servicemembers, veterans, survivors, and military families voiced their strong support for these protections and urged Congress to fully uphold them.”
“The first five-and-a-half years of the CFPB’s history has vindicated the decisions that Congress made in 2010 to create a strong independent agency to protect consumers from fraud and abuse in the financial marketplace. …It’s action have begun to reform the industry by making banks andother financial services companies more attentive to consumers’ rights…”
This letter addresses the CFPB’s proposal related to increasing access to the Fair Debt Collection Practices Act’s protections for Limited English Proficient (LEP) consumers. …Many of these individuals participate in the consumer credit marketplace, but may have greater difficulty navigating the market, especially when debts go into collection and consumers face the legal implications of unpaid debt.”