With the confirmation battle ended, the Columbus Dispatch paused to reflect on the Consumer Financial Protection Bureau’s accomplishments. “It’s off to a really good start,” AFR’s Lisa Donner told the Dispatch’s Jessica Wehrman. “But there’s a whole lot of work left to be done.”
“Under Rich Cordray’s leadership, the Bureau has begun to make a difference for consumers. Now it’s here to stay. It can continue its important work, with its authority and independence intact. That’s terrific news for American families, and for the American economy.”
AFR joined more than 160 public interest groups in urging the Senate to confirm Richard Cordray as Director of the CFPB.
Statement of Privacy and Consumer Groups In Support of CFPB’s Use of Data
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.