CFPB Archives - Page 36 of 82 - Americans for Financial Reform

AFR in the News: Dozens Of Democrats Are About To Vote For Racial Discrimination At Car Dealerships (Huffington Post)

“‘Car dealers and lenders are attacking the guidance because they do not want the CFPB to enforce antidiscrimination laws in car lending,’ the nonprofit group Americans for Financial Reform wrote in a September letter to lawmakers. ‘They have known for decades that car dealer markups lead to discriminatory lending, and they would prefer the CFPB ignore this particular injustice.'”

AFR in the News: Budget deal offers way to sneak through financial changes (USA Today)

“”The industry’s agenda is far-reaching,” [AFR’s Jim] Lardner wrote in U.S. News & World Report. ‘But the riders all share a common purpose: They would make it easier for banks and financial companies to exploit us, whether by cheating consumers, engaging in reckless bets or using taxpayer subsidies to generate windfall profits for a handful of giant institutions and a narrow financial elite.'”

AFR Statement: New HMDA Rules Should Advance Efforts to Make Mortgage Credit Available Fairly, Safely, and Broadly

“The Consumer Financial Protection Bureau (CFPB) announced yesterday that it has finalized a set of updated HMDA rules that should significantly improve the quality and value of this data, deepening public understanding of the mortgage market and advancing efforts to make credit available fairly, safely, and broadly.”

AFR Statement: The Clinton Campaign Lays out a Financial Reform Agenda

“These are matters of vital public significance, and it is a sign of progress that they are on the public agenda for the 2016 election… In a number of important areas, however, the plan largely restates existing law or practice, or reiterates commitments that regulators have already made. As a totality it does not go far enough to address the scale and scope of the problems of our financial system. “

AFR Statement: The CFPB Takes a Stand on Class-Action Bans

“Class actions, as Supreme Court Justice Ruth Bader Ginsberg explained in 1997, create room for “vindication of the rights of groups of people who individually would be without effective strength” to object to wrongdoing. Leaving consumers without “effective strength” is precisely the point of the class-action bans found more and more often in contracts governing student and payday loans, credit and prepaid cards, and other financial products and services.”

AFR in the News: Democrat Eyeing McCain’s Senate Seat Moves From Pagan Socialist to Conservative Blue Dog (InsideSources)

“Lisa Donner, head of Americans for Financial Reform… dismissed the notion that Congress needs to re-debate the agency’s structure. ‘Each month that goes by, it’s easier to make the case that CFPB is doing its job,’ Donner said. ‘These questions have been asked and answered.’”

AFR in the News: House Dems Back Away from Effort to Turn CFPB Into a Commission (Huffington Post)

It’s “a form of agency leadership that has been shown again and again to produce weak regulation and enforcement at best, and partisan gridlock at worst,” said Jim Lardner of AFR. “The commission idea is being promoted by an alliance of financial industry lobbyists and lawmakers who have been out to undermine the Bureau’s effectiveness ever since they failed to block its creation.”

AFR Statement: CFPB’s Defenders Hold the Line in Financial Services Committee

“Industry forces made a big effort to win more Democratic votes. But in the end, they fell short: the Financial Services Committee approved HR 1266, but in a largely partisan vote that dimmed its prospects for becoming law. With their hard push, however, the bill’s backers made it very clear just who is pushing for a commission instead of a single director, and why.”

Press Release: More than 13,500 People Tell the CFPB: Happy Birthday and Keep up the Good Fight

CFPB Director Richard Cordray accepted delivery yesterday of a set of birthday-card-style petitions in which more than 13,500 Americans expressed their support and gratitude for the Bureau’s efforts “to safeguard American consumers, families and communities against the deceptive and abusive practices of big banks, cred card companies, and unscrupulous lenders.” The signatures were gathered by Americans for Financial Reform, National People’s Action, and the Center for Popular Democracy.

AFR Statement: Sneak Attack on Financial Reform

“A funding measure approved by the Senate Appropriations Committee yesterday contains an outrageous sneak attack on the Consumer Financial Protection Bureau and the reforms of the Dodd-Frank Act. The FY2016 Financial Services and General Government Appropriations bill incorporates the entirety of a 229-page financial deregulation bill – one that had been rejected by every Democrat on the Banking Committee, the proper venue for such legislation.”