The Consumer Financial Protection Bureau (CFPB), created after the devastating 2008 financial crisis, exemplifies the government working for the people by vigorously protecting consumers and their families, including by reducing junk fees and holding corporations and financial institutions accountable when they engage in unfair and illegal conduct. Since its creation, the CFPB has stood up for the little guy against Wall Street, predatory lenders, and other financial services companies, by cracking down on junk fees, reducing the burdens of medical debt, fighting lending discrimination, and promoting banking competition, all while returning billions of dollars back into the pockets of everyday people.
The Consumer Financial Protection Bureau’s (CFPB) final rule to remove medical bills from most credit reports will prohibit credit reporting companies like Equifax, TransUnion, and Experian from sharing medical debt information with lenders as well as barring lenders from considering these medical debts in underwriting decisions.
On Sept 24, 2024 Americans for Financial Reform released a report providing a snapshot of how every member of Congress voted on consumer and housing protections, corporate governance, climate financial regulation, capital markets and investor protections, financial technology and cryptocurrencies, systemic risk and financial stability, and other financial industry-related measures during the first session of the 118th
As the focus on the American voter intensifies with the coming election, a new poll released today shows voters across the political spectrum overwhelmingly support the mission of the Consumer Financial Protection Bureau (CFPB), financial regulation generally, and a variety of specific CFPB actions, including efforts to limit credit card late fees, reduce overdraft charges,
Americans for Financial Reform recently joined Democracy Forward and several consumer protection organizations in an amicus brief in Chamber of Commerce v. CFPB, which was filed in the 5th Circuit in August 2024. This brief supports the CFPB’s 2022 clarification in its Supervision and Examination Manual that “discriminatory acts or practices” in the provision of
The proposed acquisition of Discover by Capital One would create the sixth-largest bank in the United States, with $624 billion in domestic assets. This transaction fails to meet the public interest conditions under the Bank Merger Act that directs banking regulators to reject mergers, like the Capital One-Discover transaction, that fail to further the convenience and needs of communities.
