CFPB Archives - Page 18 of 85 - Americans for Financial Reform

Letter to Regulators: Comprehensive Comment On CFPB’s Proposal To Repeal Payday Rule

The Proposal—a plainly outcome-driven, 47-page exercise in grasping for straws—has offered no reasonable basis to rescind that Rule. Based on a distorted focus on the Rule’s “dramatic impacts” on lenders’ ability to engage in a predatory practice, rather than on the need to protect consumers, the Proposal claims that the evidence must somehow be “more robust.” If the Rule requires significant changes for payday and vehicle title lenders, it is because the harm to consumers is dramatic. The Bureau’s new approach would ignore its consumer protection mandate and require the agency to hesitate when consumer harm is the most severe.

Letters to Regulators: Coalition Letter to the CFPB on PACE financing

On March 7, 2019, AFR Education Fund and 25 organizations submitted a letter to the Consumer Financial Protection Bureau on the need for strong consumer protections for Property Assessed Clean Energy (PACE) loans. Read or download a pdf version of this letter

News Release: Regulator’s New Plan Opens Door to Texts and Emails from Debt Collectors

“If you’re one of the millions of Americans who have dealt with constant harassment from debt collectors, you’re going to be dismayed, because the proposed rule expressly authorizes more ways to harass you,” said Linda Jun, senior policy counsel at Americans for Financial Reform.

Congressional Testimony: AFR Senior Policy Counsel Linda Jun Testifies before House Financial Services Committee

On March 7, 2019, AFR Senior Policy Counsel Linda Jun offered testimony at a hearing entitled: “Putting Consumers First: A Semi-Annual Review of the Consumer Financial Protection Bureau” before the House Financial Services Committee.

News Release: Ahead Of Kraninger Hearing, Advocates Demand To Know Why CFPB Is Attacking Consumer Protections

Today, CFPB Director Kathy Kraninger is set to testify in front of the House Financial Services Committee, marking her first oversight hearing since being narrowly confirmed last December. Kraninger will now have to answer to a new chair, Rep. Maxine Waters, and a majority that is demanding answers to why the agency has sided with the industry over consumers.

Letter from 51 groups in support of the Consumers First Act

Letter from 51 organizations supporting the Consumers First Act

News Release: Consumer Groups Strongly Oppose CFPB Product Sandbox Proposal

A group of 80 consumer, civil rights, legal services, labor, environmental, and community groups today expressed their strong opposition to the proposed changes to the Consumer Financial Protection Bureau’s no-action letter policy and its proposed product sandbox.

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