They rip people off to the tune of tens of billions of dollars a year, punish people for not being rich with higher fees and higher rates, and worsen the racial wealth gap. The Consumer Financial Protection Bureau was created to stop this kind of abusive corporate behavior, and to hold financial companies accountable when they break the law.
Advocacy
Resources
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Updates
Statement: AFR Statement Decrying the Trump CFPB Gutting of the Farm and Small Business Fair Lending Disclosure Rule
The Consumer Financial Protection Bureau released a final rule that will delay and severely undermine the farm and small business fair lending disclosure rule that will let unfair and discriminatory lending practices persist for years.
AFR in the News
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Banking Dive: CFPB slims small-business borrower data collection rule
The nonprofit Americans for Financial Reform blasted the CFPB’s update, saying Thursday’s rule “will let unfair and discriminatory lending practices persist,” including “well-documented lending biases against Black, Latine, Indigenous and women farmers.”
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Reuters: US consumer finance watchdog narrows Biden-era anti-discrimination rule on small business lending
Americans for Financial Reform, a pro-consumer organization that pushes for stricter oversight of the financial sector, said the change further weakened a critical civil rights tool, which it said was “unnecessary and immoral.”
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American Banker: Banks assail nonbank oversight in CFPB deregulatory push
Tom Feltner, associate director of consumer policy at Americans for Financial Reform and a former policy fellow in consumer engagement at the CFPB, said the five-year plan is more akin to “a statement of values,” from the Trump administration. He called the plan “performative,” and suggested that the real strategic plan for the CFPB came…
