“At least one Republican has already defected—and Crapo can only afford to lose one more… Amanda Werner, campaign manager at the consumer group Americans for Financial Reform and the liberal watchdog group Public Citizen, said ‘it is pretty appalling that Equifax would exploit consumers need for identify theft protection in the wake of this crisis they created in order to avoid accountability.’”
Congress should preserve CFPB’s rule curbing forced arbitration and abandon attempts to lighten regulation of credit bureaus in the wake of massive data breach at Equifax.
AFR opposes bills being considered by the House Financial Services Committee that are giveaways to credit bureaus, debt collectors and large banks.
Dear Representative, On behalf of Americans for Financial Reform, we are writing to express our opposition to the the appropriations bill for Financial Services and General Government (FSGG) to be considered by the House as Division D of H.R. 3354. Titles IX of Division D
The Senate should reject the Trump nominees for vice-chair of the Federal Reserve Board, Randal Quarles, and the Comptroller of the Currency, Joseph Otting.
“On behalf of Americans for Financial Reform, we are writing to express our opposition to H.R. 3312, the “Systemic Risk Designation Improvement Act of 2017.” This legislation is a gift to some of the largest banks in the country. The cumbersome regulatory process laid out
The Department of Education’s decision to end information sharing with the Consumer Financial Protection Bureau (CFPB) is a betrayal of students and a boon to loan servicers with a history of preying on those students.
AFR Response to FHFA LEP RFI Maintaining information on language preference over the entire life of the loan is critical because borrowers need to interact with their lenders and servicers at many different times over the life of a loan. Further, we argued that universally
“The payday rule is seen as one of the last major Cordray-era regulatory proposals that haven’t been finalized, and consumer advocacy groups and liberal Democrats who support the CFPB have also been supportive of the rule proposal as a key measure to prevent consumers from getting mired in debt. Jose Alcoff, campaign organizer at Americans for Financial Reform, defended the bureau’s approach to the payday loans issue. ‘It’s been 29 months since the proposal was first outlined, and 15 since it was formally put to the public… We do need a rule soon to curb these abuses.’”
“This lapse calls for new congressional hearings on Wells Fargo, according to 33 consumer groups. Led by Americans for Financial Reform and Public Citizen, two left-leaning consumer organizations, the groups sent a letter late Thursday to leadership of the Senate Banking Committee and the House Financial Services Committee urging them to bring Wells Fargo executives back to Capitol Hill to answer questions about the bank’s stream of abuses.”