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
Press Release: States Sue to Block Big Bank Power Grab
Today, Oregon Attorney General Dan Rayfield and New York Attorney General Letitia James, joined by the AGs of California, Connecticut, Maine, Maryland, Massachusetts, Minnesota, Rhode Island, and Vermont filed a lawsuit to block a Trump banking regulator’s expansive override of state consumer protection laws.
AFR in the News
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Scotsman Guide: Poll shows broad support for CFPB ahead of Vought’s congressional testimony
“The CFPB was created in the wake of one of the worst financial crises in our nation’s history,” Feltner stated, referring to the establishment of the bureau in 2010 as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act after the 2008 financial crisis.
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Bloomberg: Vought Gutted America’s Consumer Watchdog — Now Congress Seeks Answers
“Russell Vought’s first, and likely last, appearance as acting director comes at a critical moment,” said Tom Feltner, associate director of consumer policy at Americans for Financial Reform. “While Vought will likely try to square his public calls to shut down the agency with his recent actions to prove to the court there is nothing…
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Politico Morning Money: First in MM: A look at the CFPB’s support
The Center for Responsible Lending and Americans for Financial Reform’s poll comes just one day before Acting CFPB Director Russell Vought is set to hit Capitol Hill for two days of testimony.
