AFR joined more than a dozen public interest groups in applauding the recent activities of the CFPB aimed at ending discriminatory lending practices in the auto finance market that harm minority car buyers.
AFR submitted a comment letter to the CFPB supporting their proposed guidance clarifying the relationship of their servicing rules to stronger state laws. The letter also makes suggestions for improvement.
AFR joined public interest groups in weighing in on the CFPB’s proposal defining larger market participants for student loan servicing.
AFR sent a letter to the CFPB commending their excellent work, and listing a set of issues that we feel should become priorities for the bureau in the future.
As new data confirms, they frequently serve as debt traps, with borrowers unable to repay, taking out repeated loans, and struggling to cover basic living expenses for months on end.
“This is about a minority that doesn’t want a watchdog that will keep an eye on the big banks to make sure they don’t cheat their customers.” – Senator Elizabeth Warren.
AFR joined public interest groups in submitting a comment letter to the CFPB, arguing that additional information regarding private student loan servicing and collection is needed to design an effective loan modification program.
Under huge pressure and intense scrutiny, the CFPB’s “execution has been pretty darned good,” says AFR ‘s Lisa Donner..
Combing through a 1000-page contract, the Tribune found “some eye-opening fees.” Such as $2.95 for “reloading your account online using a credit card.”
43 Senators are using the confirmation process to extract major, weakening changes in CFPB governance and funding. “We call on the Senate to reject this outrageous tactic and bring Richard Cordray’s nomination to a swift up-or-down vote.”