A coalition of 27 civil rights, community, consumer and other groups challenges CFPB’s consideration of reducing home lending disclosure, a critical tool to stop lending discrimination and hold banks accountable for their record of lending to communities of color and lower income neighborhoods.
News Release: 2019 AFR/CRL Poll Shows Broad Support for Continued Wall Street Reforms in Early Primary States
As candidates vie to set the agenda for the next presidency, Democratic primary voters in Iowa, New Hampshire, Nevada, and South Carolina strongly support a tough approach to oversight and reform of Wall Street, according to a new poll conducted by the bipartisan team of Lake Research Partners and Chesapeake Beach Consulting.
Americans see the need for tough enforcement of existing rules, even after hearing opposing arguments that stress a danger in the role of government. They strongly support the 2010 Dodd-Frank law that Congress passed in response to the financial crisis, as well as additional measures to fight continuing industry abuses.
It was no longer a lonely effort. Mr. Frank, a powerful committee chairman, was now an ally. So was an emerging coalition of progressive groups, labor unions and consumer advocates, known as Americans for Financial Reform. Ms. Warren sought out its leader, Heather Booth, for insight into political organizing. “She knew many of the players on the policy side,” Ms. Booth said. “What she hadn’t been experienced with were the politics.”
Kraninger is wildly unqualified to lead the CFPB: Before her confirmation, she had no experience in consumer protection or financial regulation. Civil rights groups and Wall Street watchdogs [AFR letter linked] uniformly opposed her, while the financial industry supported her—perceiving correctly that she would be, at best, a do-nothing director.
Letter to Regulators: Joint Letter to CFPB on Debt Collection NPRM’s failure to protect student loan borrowers from abusive practices
AFR Ed Fund and thirty-three other organizations submitted the following comments in response to the Consumer Financial Protection Bureau (CFPB)’s notice of proposed rulemaking (NPRM) on Debt Collection Practices (Regulation F).
On September 18, 2019, 43 organizations submitted a comment letter to the CFPB about the need for greater protections for Limited English Proficient (LEP) consumers in the debt collection process.
Strong majorities across parties oppose the Consumer Financial Protection Bureau’s (CFPB) proposed debt collection rule including medical debt, according to a new poll released by Americans for Financial Reform (AFR) and the Center for Responsible Lending (CRL). The poll was conducted by the bipartisan team of Lake Research Partners and Chesapeake Beach Consulting.
In its proposed rule, CFPB Director Kathy Kraninger is sanctioning consumer harassment by allowing debt collectors to: call consumers seven times per debt, per week; send unlimited emails, texts, and social media messages without consumer consent; allow debt collectors to collect very old “zombie debts” where the time to sue has expired; and file baseless lawsuits by making it easier to sue the wrong consumer, for the wrong amount.
CFPB finalizes policy that gives companies a private channel to seek approvals of untested new products and a promise that the CFPB will not take action for consumer protection law violations