AFR sent a letter to members of Congress yesterday regarding a piece of legislation that would threaten the ability of the CFPB to sufficiently protect consumers. If enacted, this bill would virtually guarantee that the CFPB would be a weak and timid agency without the will or ability to curb the kind of financial abuses that caused the nation’s worst financial crisis since the Great Depression.
Majority Of Americans Support Strong Consumer Protection Agency: Poll James Sunshine (Huffington Post) July 21, 2011 ―As of Thursday, the Consumer Financial Protection Bureau is open for business. And many Americans have already expressed their support. The poll, sponsored by the AARP, Americans for Financial
FOR IMMEDIATE RELEASE July 21, 2011 CONTACT: Ed Mierzwinski, U.S. PIRG 202-461-3821 John Carey, AFR, (202) 466-1854 New Report Highlights Reasons for New Consumer Protections Consumer Financial Protection Bureau “Stands Up” Today Washington, DC – The report, entitled “10 Reasons We Need The Consumer
Huffpost Hill – Congress Still Targeting Olds Huffington Post July 20, 2011 “OCC Still a Sick Joke Masquerading as a Federal Agency – Remember when all those state regulators wanted to crack down on predatory lending in, like, 2004? And remember when the OCC stepped
New agency arrives with broad powers to police financial products Connie Prater (Creditcard.com) July 20, 2011 ―In what consumer groups are heralding as a historic moment for American families, a new federal consumer financial watchdog agency officially opened for business Thursday. It is doing so,
Read U.S. PIRG and AFR’s issue brief outlining the 10 reasons we need the Consumer Financial Protection Bureau here.
FOR IMMEDIATE RELEASE July 18, 2011 CONTACT: John Carey at 202-466-1854 john@ourfinancialsecurity.org AFR Statement on Announcement of Richard Cordray to Lead the CFPB Washington, DC – Americans for Financial Reform, a coalition of more than 250 national and state organizations working together for strong
Click here to view this week’s highlights and lowlights in Wall Street Reform – July 9, 2011 – July 15, 2011.
Elizabeth Warren‘s Summer Grilling Gary Rivlin (The Daily Beast) July 14, 2011 ―Summer is the season of reruns, so anyone tuning in this morning to watch the latest appearance of Elizabeth Warren on Capitol Hill can be forgiven for thinking they‘ve seen this show before.
The prudential regulators’ proposed rules on margin and capital requirements must be strengthened. There are several areas which could be improved upon, particularly the calculation and collection of margin must be improved. The suggested revisions would further help to reduce systemic risk in swaps transactions, which is the ultimate goal of the measures.