“Putting the greed of campaign contributors ahead of the public interest, lawmakers are preparing to take a wrecking ball to reforms that addressed a devastating financial crisis and recession.”
AFR MATERIALS Ten Ways the CFPB Safeguards Your Money (June 2017) CFPB Enforcement Actions (June 2017) Why the CFPB Matters to Servicemembers, Veterans and their Families (March 2017) Why the CFPB Matters to Communities of Color and the Cause of Equal Rights (March 2017) Why the CFPB
“There is overwhelming agreement that the lack of adequate regulation of the financial markets has cost the U.S. economy millions of jobs and many trillions of dollars in lost wealth. While Wall Street profits have recovered, many Americans are still struggling. Support for this legislation is support for eliminating the ability of regulators to prevent the next financial crisis.”
GENERAL TOPICS Consumer Finance Issues Consumer Financial Protection Bureau Derivatives Dodd-Frank Act Investor Protection Polling on Financial Regulation Systemic Risk CURRENT ISSUES Auto Lending Bank Ownership of Commodities CFTC Funding Fiduciary Duty of Financial Advisers Payday Lending 21st Century Glass-Steagall Act Wall Street Speculation Tax
Speaking in Detroit on August 8, Donald Trump outlined the very broad brushstrokes of an economic plan that included a “temporary moratorium on new agency regulations.” Such a moratorium would block the implementation of crucial Dodd-Frank rules that have yet to be written or put into final effect. It would also slam the brakes on many ongoing efforts to protect American consumers. Proceeding with these much-needed financial regulations is vital not just to the economic security of American families, but also to the economic stability of the country as a whole.
Ninety-six percent of Democrats and 89 percent of Republicans regard financial regulation as important, according to the survey, which was conducted in June by Lake Research Partners and Chesapeake Beach Consulting on behalf of Americans for Financial Reform and the Center for Responsible Lending. Here
“A recent poll conducted by Lake Research Partners and Chesapeake Beach Consulting finds voters strongly support restoring consumers’ right to bring class action lawsuits against banks and lenders instead of being forced to take individual cases to an arbitrator of the lender’s choosing. After hearing an argument for and against, voters of all political parties express majority support for federal action to restore these rights.”
MAJOR POLICY AREAS Climate Financial Regulation Consumer Finance and the CFPB Coronavirus Response Hedge and Private Equity Funds Housing and Mortgages Systemic Risk and Wall Street Student Lending ADDITIONAL TOPICS About the CFPB Auto Lending DoL Fiduciary Rule and Retirement Savings Dodd-Frank Act Derivatives and
BACKGROUND MATERIALS Non-Negotiable: Negotiation Doesn’t Help African Americans and Latinos on Dealer-Financed Car Loans (Center for Responsible Lending, Jan 2014) California Poll on Auto Lending (CARS, Oct 2013) Driven to Disaster: Car-Title Lending and Its Impact on Consumers (Center For Responsible Lending, Feb 2013) CFPB Auto
A new national survey shows overwhelming support across lines of age, race, geography, and political party for tougher regulation of Wall Street and financial companies.