It is urgent that the Supreme Court hear the Consumer Financial Protection Bureau appeal of an erroneous decision that declared the funding mechanism of this vital federal agenda unconstitutional.
FOR IMMEDIATE RELEASE November 8, 2022 CONTACT: Carter Dougherty carter@ourfinancialsecurity.org (202) 251-6700 Collapse of Major Crypto Exchange FTX Is a Reminder of Crypto’s Instability Consumer Advocacy Groups Urge Regulators to Step Up Scrutiny; Warn Congress to Avoid Watered-Down Policy Responses Washington, DC – Today’s announcement by crypto exchange FTX that it has signed an agreement
On Wednesday, October 19, 2022, a three-judge panel in the 5th U.S. Circuit Court of Appeals agreed with the payday lenders trade association in ruling that the CFPB’s funding structure is unconstitutional because it does not go through Congressional appropriations. This line of attack toward the CFPB – via its funding – has nothing to do with actually caring about the constitution and everything to do with the big banks and predatory lenders trying to escape the oversight and enforcement actions of an agency focusing on protecting and defending consumers.
The Federal Insurance Office (FIO) proposed new reporting requirements for insurers to collect geographical data on how climate change is affecting the availability and affordability of homeowners, multi-peril commercial, and fire insurance, with a lookback period of five years to assess trends. This is a critical–and long-awaited–first step to quantify the growing homeowners’ insurance gap in the midst of worsening climate conditions.
Today, 29 groups called on federal bank regulators to finally draft a plan to strengthen the merger guidelines to mitigate the adverse effects of bank consolidation, which include increased evictions, higher rates of debt collection, and decreased access to credit for consumers and businesses.
WASHINGTON-D.C. — A lawsuit filed by the Wall Street lobby attempts to use the increasing corrosion of the judiciary by right-wing judges to enshrine in law a right to discriminate, according to Americans for Financial Reform, a broad coalition of organizations that includes civil rights and racial justice groups.