AFR submitted a comment letter to the CFPB calling for yield spread premiums to be included in the calculation of points-and-fees thresholds. This inclusion is very important to carrying out the Dodd-Frank Act directive that prohibits steering borrowers to more expensive loans.
Ed Mierzwinski of US PIRG (also the head of AFR”s consumer protection task force) appeared on WBUR-FM with a Washington Post reporter and a Heritage Foundation fellow.
AFR submitted a comment letter to the CFPB arguing for the need of rigorous consumer protections attached to any corporate field testing of new disclosure forms.
Senate leaders take a clear stand against the threat of what one Congressional scholar has termed modern-day nullification.
AFR sent a letter to members of the Senate urging them to support the confirmation of Richard Cordray as the full term director of the CFPB.
“These findings of widespread and damaging errors… underscore once again how important the [CFPB] is, and how important it is for the Senate to confirm Richard Cordray as Director.”
Another battle is brewing over the Consumer Financial Protection Bureau. President Obama has renominated Richard Cordray as director, but 43 Senators have threatened to once again block his appointment unless the agency is dramatically weakened. Make no mistake: what we’re facing is an attempt to
84% say they support the consumer Bureau, and most are Republicans in a new poll commissioned by Small Business Majority and sponsored by the Center for Responsible Lending
While Republicans threaten to once again insist on weakening changes in the CFPB’s governing structure before considering a nominee for director, Richard Cordray may be winning over some elements of the banking world, according to Bloomberg.
“The Senate now has a second chance to confirm this commendable nominee. It should.”