Consumer advocates, civil rights groups, and community organizations across the country urged the Consumer Financial Protection Bureau to ban overdraft fees and payday loans on prepaid cards in numerous comments filed with the Bureau yesterday.
AFR sent a letter to members of Congress urging them to oppose H.R. 6139. This legislation would weaken consumer protection against financial abuses, undermine the authority of the CFPB over a huge swath of consumer financial products and services, and override state consumer protection laws through preemption.
AFR submitted a comment letter cosigned by more than two dozen other organizations urging them to ensure that prepaid cards will be safe, fair, and appropriate for the consumers that use them.
Financial reforms enacted in response to the financial meltdown remain popular with Americans likely to vote in 2012, a new opinion poll by Lake Research Partners shows. The poll was commissioned by AARP, the Center for Responsible Lending (CRL), Americans for Financial Reform (AFR) and the National Council of La Raza (NCLR). Saturday (July 21, 2012) marks the two-year anniversary of the Dodd Frank Act, which created the Consumer Financial Protection Bureau (CFPB).
AFR sent a letter to members of Congress urging them to oppose H.R. 4323, which would weaken consumer protections and increase the amount of fees paid by families on their mortgages. This bill would also undermine the CFPB.
Read our letter opposing the House Appropriations Committee’s proposal to eliminate the budgetary independence of the CFPB.
For Immediate Release: Contact: Ruth Susswein (301) 718 -2511 ruth.susswein@consumer-action.org Ed Mierzwinski (202) 461-3821 edm@pirg.org Advocates Applaud Consumer Bureau’s New Credit Card Complaint Database Disclosure Policy New database will empower cardholders and hold financial companies accountable Consumer, civil rights and open government groups, all
AFR sent a letter to members of congress, urging them to oppose the “Sequester Replacement Reconciliation Act of 2012”, which would end the Home Affordable Mortgage Program (HAMP), repeal the resolution authority granted to the FDIC to liquidate failing financial institutions, eliminate the Office of Financial Research, and eliminate the independence of the Consumer Financial Protection Bureau by making it the only bank regulatory agency subject to the appropriations process.
AFR signed onto a comment letter urging the CFPB to use all tools available to end the destructive and abusive practices of payday lending.
AFR sent a letter to the CFPB regarding their Qualified Mortgage/Ability to Repay proposal.