CFPB Archives - Page 28 of 89 - Americans for Financial Reform

Stop the Debt Trap Statement: Mulvaney, Predatory Lenders Signal Plan to Kill Payday Lending Rule

“This move shows the level of influence that payday lenders have over Mick Mulvaney, who for years received campaign contributions while a member of Congress. With today’s announcement, Mulvaney is sending an unmistakable signal that he wants to kill this common-sense regulation.” Payday loans “trap borrowers in an unaffordable cycle of debt, causing severe financial harm such as bank penalty fees, delinquency on other bills, or even bankruptcy. There is no reason to reopen the rule, and doing so shows disdain for consumer protection and low-income communities that are targeted by these debt trap loans.”

AFR Release: Lawsuits Challenge Trump-Mulvaney Attempt to Take Over CFPB

Americans for Financial Reform and the Center for Responsible Lending hosted a press call today with leading experts to discuss two ongoing lawsuits concerning the CFPB director and the administration’s attempts to destroy the CFPB’s independence.

AFR Release: New Polling Memo Shows Debate On CFPB Is Political Winner

Fighting to preserve the mission of the Consumer Financial Protection Bureau resonates strongly with an American public that is still feeling the effects of the Wall Street-induced recession and its continuing ripoffs of its own customers, according to a new polling memo.

AFR Memo: Debate on CFPB Mission Strikes Positive Chord With Public

By overwhelming majorities, across party lines and geographies, the American public supports the mission of the Consumer Financial Protection Bureau, and rejects standard arguments against it.

AFR Release: New Report Documents Deepening Links Between Payday Lending and Private Equity

Private equity moguls have invested heavily in the payday and installment lending. The development puts private equity firms in the position to profit from efforts by payday lenders to roll back an important new rule by the Consumer Financial Protection Bureau.

AFR Report: Payday Lending and the Private Equity Business

New report offers details on over 20 cases of private equity investment in payday lending, and how the new owners or investors seek greater rewards from this predatory business.

AFR Statement: Trump Tweets Tough on Wall Street As Record Shows Opposite

The notion that this administration is or will be tough on Wall Street doesn’t pass the laugh test, and that fact is evident in deeds, not tweets. Trump has put Goldman Sachs executives in the most senior positions in the government, and pushed for a giant tax cut for Wall Street.

AFR Statement: Public Interest Groups File Amicus Brief In Support of Leandra English as CFPB Director

Americans for Financial Reform joined a group of public interest advocates in support of Leandra English’s lawsuit to be recognized as the sole lawful Acting Director of the Consumer Financial Protection Bureau.

Letter To Congress: Reject S 2155 — A Gift to Bank Lobbyists

AFR sent a letter urging Senators to reject S 2155, which contains some two dozen deregulatory gifts to bank lobbyists and only minimal consumer benefits AFR Opposition Letter to S 2155

AFR Statement: Congressional Move Is a Sellout to Payday Loansharks

“Attempts to roll back this protection for consumers are nothing more than a sellout to the predatory payday lenders who want to continue to enrich themselves by trapping people in a painful cycle of debt. Congress should reject this and other attempts by payday lenders to undo a common sense rule based on the common sense principle of ability to repay.”