CFPB Archives - Page 19 of 82 - Americans for Financial Reform

Joint Letter to CFPB: An Inquiry Process Weighted in Industry’s Favor

“The RFIs pose questions that are almost entirely from an industry perspective and are insufficiently specific to elicit meaningful comment. The RFIs hint at changes desired by industry without providing enough detail to inform members of the public who do not have experience with the internal workings of the Bureau or the implications of the questions. This process weighted in industry’s favor is not consistent with the CFPB mandate to focus on consumer protection.”

AFR in the News: Senate Votes to Ease Restrictions on Auto Lending Discrimination (NY Times)

“‘“By voting to roll back the CFPB’s work, senators have emboldened banks and finance companies to engage in racial discrimination by charging millions of people of color more for a car loan than is justified,’ said Rion Dennis of Americans for Financial Reform, an advocacy group. ‘Lawmakers have also opened the door to challenging longstanding agency actions that are crucial to protecting workers, consumers, civil rights, the environment and the economy.’”

AFR Statement: Consumers Need CFPB Director Nominee, Not Mulvaney’s Pay-to-Play

Mick Mulvaney admits he favored lobbyists who gave him money as a lawmaker. He has no business running the CFPB, an agency devoted to the protection of consumers, not lobbyists.

AFR in the News: Consumer watchdog becomes alphabet soup of controversy (Washington Post)

Swapping “Bureau” from back to front is not a simple word shuffle, said Lisa Donner, executive director for the advocacy group Americans for Financial Reform. “Doing that signals you want to take the emphasis away from serving consumers — which unfortunately is what Mulvaney’s been doing in many ways — and put it on ‘this is a bureaucracy’,'” Donner said.

AFR in the News: Mulvaney’s Pay-to-Play an “undermining of democracy” (St. Louis Post-Dispatch)

Americans for Financial Reform reported that the financial sector spent $2 billion on political activity in the 2016 election cycle, including $1.1 billion in campaign donations and the rest for lobbying. That’s $3.7 million for every member of Congress.

AFR Statement: Senate Rollback of CFPB Auto Lending Guidance Fosters Discrimination

Senators who voted to reverse this important CFPB action have also opened the door to challenging long-standing regulatory actions that are crucial to protecting workers, consumers, civil rights, the environment, and the economy

Joint Statement: In Message to Congress, Mulvaney Betrays Mandate to Protect Consumers

“Like other federal regulators, the Consumer Financial Protection Bureau is supposed to give regular updates to Congress on the work it has done to fulfill its statutory mandate. Under Mick Mulvaney, the consumer watchdog has used its just-released semiannual report for a very different purpose: to urge Congress to take away its power to fulfill that mandate.”

Stop the Debt Trap Statement: Mulvaney Continues to Let Payday Lenders Off the Hook

Trump’s unlawfully appointed Acting Director of the Consumer Financial Protection Bureau Mick Mulvaney is giving predatory payday lenders a free pass. Specifically, National Credit Adjusters, a debt collector for payday loan companies with 685 complaints against it, confirmed that a pending case against the company is “dead.”

Joint Letters: More than 300 national, state and local organizations urge opposition to bringing CFPB funding under the Appropriations process

AFR and more than 300 organizations urge members of Congress to oppose any poison pill financial reform policy riders, whether to put the CFPB under the normal Appropriations process, otherwise weaken the authority, structure or independence of the CFPB.

AFR Statement: Administration Seeks Sabotage of CFPB Via Budget, ‘Strategic Plan’

“The administration’s budget and Mick Mulvaney’s ‘strategic plan’ for the CFPB are transparent attempts to stop the agency from doing what it was designed to do: actually protect consumers.”said Lisa Donner, executive director, Americans for Financial Reform.