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 Category: Press Releases & Statements
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: Biden Bank Regulation Plan Offers Critical First Steps to Reversing Deregulation
Washington, D.C. – The banking regulation plan outlined by the White House today is an absolutely necessary response to the financial instability triggered by the collapse of Silicon Valley Bank on March 10. But only continuing action by the president, the regulators, and Congress can achieve the changes necessary for a more equitable and stable financial system.
News Release: SEC Action on Beaxy Will Build Out Campaign to Rein in Crypto Abuse
Washington, D.C. – The Securities Exchange Commission’s case against crypto trading platform Beaxy and its executives for operating an unregistered exchange will build out the ongoing effort by regulators to enforce laws on the books to stop harmful activities within the crypto industry, according to Americans for Financial Reform and Demand Progress.
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: Second Circuit Court Affirms CFPB Constitutionality
The Second Circuit Court of Appeals today unanimously declared the funding structure of the Consumer Financial Protection Bureau (CFPB) is constitutional, rejecting the Fifth Circuit Court’s ruling in CFPB v. CFSA and writing that it “cannot find any support” for the Fifth Circuit’s ruling in Supreme Court precedent.