They rip people off to the tune of tens of billions of dollars a year, punish people for not being rich with higher fees and higher rates, and worsen the racial wealth gap. The Consumer Financial Protection Bureau was created to stop this kind of abusive corporate behavior, and to hold financial companies accountable when they break the law.
Advocacy
Resources
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Updates
Press Release: CFPB Abandons Mandate to Protect People From Discrimination in Credit Markets
Today, the Consumer Financial Protection Bureau (CFPB) took the unprecedented step of eliminating key anti-discrimination protections under a final rule that will give lenders a free pass to discriminate and cut off access to critical lending programs put in place to help people long locked out of fair access to credit opportunities to build wealth.
AFR in the News
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Bloomberg Law: Vought’s New CFPB Plan Leaves Opening for Agency Resurgence
“This layoff plan retains some core functions, but, absent court review, there is nothing stopping CFPB leadership from firing the remaining staff down the line,” Tom Feltner, the associate director of consumer policy at the Americans for Financial Reform Education Fund and a former CFPB official, said in a statement.
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WebProNews: The Gutting of the CFPB: Inside the Trump Administration’s Plan to Reduce America’s Consumer Watchdog to a Skeleton Crew
Consumer advocacy groups have been sounding the alarm for months. The National Consumer Law Center called the proposed cuts “an existential threat to consumer protection in the United States.” Americans for Financial Reform warned that the decimation of the CFPB would leave consumers exposed to the same predatory lending practices that fueled the 2008 mortgage…
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Senator Dick Durbin: Durbin Introduces Bill To Create Interagency Committee To Expand Oversight On For-Profit College Industry
The bill has earned support from the American Federation of Teachers, Americans for Financial Reform, Center for Responsible Lending, Complete College America, National Association for College Admission Counseling, National Consumer Law Center (on behalf of its low-income clients), National Education Association, New America, Protect Borrowers, The Education Trust, The Institute for College Access & Success,…
