Tag Archives: CFPB

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AFR in the News: Buried deep within GOP bill: ‘free pass’ for payday and car-title lenders (LA Times)

“According to the advocacy group Americans for Financial Reform, payday and title lenders spent more than $15 million on campaign contributions during the 2014 election cycle. The top recipient, with nearly $224,000 in donations from the industry, was the National Republican Congressional Committee. The largest individual recipient, with $210,500 in payday and title loan cash, was — you guessed it — Hensarling.”

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AFR in the News: Valdez: Hate predatory loans? Tell Congress to keep its mitts off this agency (Arizona Republic)

“The [Hensarling] bill ‘would make it easier for Wall Street megabanks – plus other mortgage lenders, payday lenders, credit card companies and debt collectors . . . to make windfall profits by cheating people or putting the stability of the financial system at risk.’ That’s… from an email blast [the National Consumer Law Center] sent out in conjunction with Americans for Financial Reform.”

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AFR in the News: Buried in Trump’s Budget, Another Attempt to Kill CFPB (Money Magazine)

“‘Without exception, the proposals we’ve seen to de-fund or restructure the Consumer Financial Protection Bureau are about making it less effective at doing its job,’ says Carter Dougherty, spokesman for Americans for Financial Reform… ‘All these proposed changes to the CFPB would do is make it easier for Wall Street and assorted predatory lenders to rip people off.'”

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AFR Statement: Budget Takes Aim at CFPB and Student Loan Holders

“Without exception, the proposals we’ve seen to de-fund or restructure the Consumer Financial Protection Bureau are about making it less effective at doing its job,” said Brian Marshall, policy counsel at AFR. “The agency has won relief worth $12 billion for 29 million Americans since it started work. All these proposed changes to the CFPB would do is make it easier for Wall Street and assorted predatory lenders to rip people off.”

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AFR in the News: Consumer advocates press Congress to keep CFPB intact (MarketWatch)

“More than 100 members of organizations… met with government officials of both parties and their staffs to lobby against several laws proposed recently… Brian Simmonds Marshall, policy counsel for Americans for Financial Reform, [said] , ‘We were very glad we had so many consumer advocates in Washington when these crucial issues to consumer protection are being actively considered by Congress…’”

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Joint Statement: Prepaid Card Protections Escape Congressional Veto

“‘This rule will give consumers, including people who rely on prepaid debit cards instead of a bank account, the basic protections they need to manage their finances more safely and securely,’ said Lisa Donner, executive director at Americans for Financial Reform. ‘When people learned it was under threat, they made the case that this rule is important and workable, and it looks like enough lawmakers paid attention.'”

AFR's Amanda Jackson testifies before the House Financial Services Committee

AFR Testimony: Reject Wall Street’s CHOICE Act

“This legislation would be better dubbed ‘Wall Street’s CHOICE Act,’ because it would have a devastating effect on the capacity of regulators to protect the public interest and defend consumers from Wall Street wrongdoing and the economy from risks created by too-big-to-fail financial institutions.” — testimony at House Financial Services Committee hearing, April 26