Letter To Congress: Reject S 2155 — A Gift to Bank Lobbyists
AFR sent a letter urging Senators to reject S 2155, which contains some two dozen deregulatory gifts to bank lobbyists and only minimal consumer benefits AFR Opposition Letter to S 2155
Joint Letter: More than 50 Organizations Oppose “Preserving Access to Manufactured Housing Act”
“This bill would undermine already vulnerable homeowners by stripping away protections created by Congress and implemented by the Consumer Financial Protection Bureau (CFPB). These protections were put in place for a reason: to give manufactured-homeowners the same protections as traditional homeowners.”
AFR Statement: House Bill to Reauthorize the Higher Education Act opens the floodgates to waste, fraud, and abuse
Today, Rep. Virginia Foxx, Chairwoman of the House Education and the Workforce Committee, introduced a bill to reauthorize the Higher Education Act (HEA) that includes language that opens the floodgates to waste, fraud, and abuse by for-profit colleges.
AFR Statement: Congressional Move Is a Sellout to Payday Loansharks
“Attempts to roll back this protection for consumers are nothing more than a sellout to the predatory payday lenders who want to continue to enrich themselves by trapping people in a painful cycle of debt. Congress should reject this and other attempts by payday lenders to undo a common sense rule based on the common sense principle of ability to repay.”
AFR Statement: English is Rightful Acting Director While Courts Rule on CFPB Leadership
In the meantime, the CFPB still has work to do holding Wall Street to account on behalf of American consumers, and Ms. English and the CFPB staff can continue its successful run. Now, the president should nominate someone with a track record of fighting for consumers who will enjoy bipartisan support in the Senate.
Joint Statement: Consumer Advocates Blast DOL Attempt to Kill Fiduciary Rule
“The Trump Administration’s actions prove that it is far less interested in protecting investors from the harmful effects of conflicts of interest than it is in catering to Wall Street interests… By stripping out the rule’s private enforcement mechanism, and by stating that the Department won’t enforce the rule, the DOL has rendered the rule toothless.”
AFR Statement: Attempt to Put Mulvaney in at CFPB Shows Contempt for American Consumers
Mulvaney has said he is opposed to the very existence of the CFPB, and as a member of Congress he voted in favor of Wall Street banks and predatory lenders — his largest donors — again and again. The CFPB has recovered $12 billion in ill-gotten gains on behalf people around this country. It is this work that the administration apparently wants to destroy
Letter to Regulators: AFR Urges Federal Reserve To Increase Risk Controls on Cleared Derivatives
“On behalf of Americans for Financial Reform, we are writing to express our support for proposed changes…by the Federal Reserve Board of Governors… to the FR Y-15 systemic risk reporting form… regarding the treatment of cleared over-the-counter derivatives transactions.”
AFR Statement: No Budget Riders Weakening Wall Street Reform or CFPB
Congress should abandon budget rider proposal that would eliminate independent funding for the CFPB and other poison pills.
AFR Statement: Treasury Report on Systemic Risk Designation of Large Non-Banks
FOR IMMEDIATE RELEASE Nov. 20, 2017 CONTACT Carter Dougherty carter@ourfinancialsecurity.org (202) 251-6700 Treasury Memorandum Weakens Systemic Risk Supervision On Friday the Treasury Department released a memorandum on the process used by the Financial Stability Oversight Council (FSOC) to designate large systemically significant non-bank financial institutions