News Release: New CFPB Guidance Defines Abusive Industry Conduct
Washington, D.C. — The Consumer Financial Protection Bureau (CFPB) today issued a policy statement on how it defines prohibited abusive conduct against consumers.
Tag Archives: CFPB
News Release: CFPB Proposed Rule will Bring Accountability for Financial Corporations
Washington, D.C. — The Consumer Financial Protection Bureau (CFPB) proposed rulemaking to require that regulated nonbank entities annually register with the CFPB regarding their use of specific terms and conditions in form contracts for consumer financial products and services, will reinforce the agency’s ongoing efforts to bring transparency and accountability on how financial industries operate, according to Americans for Financial Reform Education Fund and consumer coalition advocates.
Letters to Regulators: Letter to the CFPB on Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders
AFREF joined a comment to the CFPB supporting the Bureau’s proposal to require nonbank covered persons that are subject to certain agency and court orders to register those orders with the CFPB. The registry will help the CFPB, law enforcement community, and the public limit the harms from repeat offenders.
Guest Blog: Do Not Revamp or Defund the CFPB
Congressional Republicans have moved on to their next target for financial deregulation: Republicans in Congress and the consumer finance industry want to eliminate or hobble the Consumer Financial Protection Bureau. The agency has provided $16 billion in restitution or cancelled debt to 192 million consumers since the agency began operation in 2010. It’s one of the few institutions, public or private, that has earned Americans’ confidence in a long time.
News Release: Second Circuit Court Affirms CFPB Constitutionality
The Second Circuit Court of Appeals today unanimously declared the funding structure of the Consumer Financial Protection Bureau (CFPB) is constitutional, rejecting the Fifth Circuit Court’s ruling in CFPB v. CFSA and writing that it “cannot find any support” for the Fifth Circuit’s ruling in Supreme Court precedent.
Letter to Congress: Oppose Legislation Undermining Stable CFPB Funding
AFR and partners submitted a letter to the House Financial Services Committee in opposition to the TABS Act.
Letters to Regulators: Letters to the IRS and Treasury and the CFPB on Medical Debt
AFREF joined two letters – one to the Internal Revenue Service (IRS) and Department of Treasury, and one to the Consumer Financial Protection Bureau (CFPB) – urging the Biden-Harris Administration to do more to relieve medical debt for tens of millions of people. The letters, signed by more than 60 organizations, include specific executive actions the administration can take to address medical debt.
Blog: CFPB Supreme Court Case Draws Greater Attention as Threat to Federal Reserve
The gravity of what will be a landmark Supreme Court case involving the funding of independent agencies has become increasingly apparent to observers of the judiciary. Numerous media reports have highlighted how the case, aimed at the Consumer Financial Protection Bureau, threatens to upend the funding for many federal agencies, above all the Federal Reserve.
News Release: Supreme Court Signals Gravity of Fifth Circuit Ruling by Taking CFPB Case
Washington, D.C. – The Supreme Court’s decision to take up a case in which the Fifth U.S. Circuit Court of Appeals attacked the funding mechanism of the Consumer Financial Protection Bureau recognizes that the lower court has produced a decision threatening consumers, honest businesses, and the financial system itself.
News Release: New CFPB Protections will Reduce Credit Card Late Fees, Save Consumers $9 Billion
Washington, D.C. – A new plan from the Consumer Financial Protection Bureau (CFPB) announced today should save real people real money – $9 billion each year – by capping the late charges that credit card companies impose on customers. But the consumer agency also faces an existential threat that the Supreme Court may soon address.