This Week in Wall Street Reform
Click here to view this week’s highlights and lowlights in Wall Street Reform – December 3, 2011 – December 9, 2011.
Tag Archives: CFPB
AFR in the News: Consumers lose as GOP moves against nominee for new consumer bureau
“…As expected, Republican senators blocked a vote Thursday on whether to approve President Obama’s nominee to head the new Consumer Financial Protection Bureau. …A July poll sponsored by AARP, Americans for Financial Reform and the Center for Responsible Lending found that about 63% of Americans favored more government oversight of financial companies, and 74% favored having a single agency focus on protecting consumers from financial organizations.”
AFR in the News: Despite Defeat, Cordray Lobbying Continues
Before the vote, more than 200 organizations, led by Americans for Financial Reform, sent a letter to senators warning that the CFPB’s ability to regulate and protect consumers would be severely restricted without a director.
AFR in the News: Senate Republicans Block Consumer-Bureau Nominee
‘Some senators are taking the extreme step of demanding that the law be reopened and refusing to allow him an up or down vote,’ said Americans for Financial Reform Director Lisa Donner. ‘If they continue, we will urge the president to make a recess appointment.’
AFR Press Statement: Filibuster of Cordray Nomination to lead the CFPB
With this morning’s vote on General Cordray’s nomination to lead the Consumer Financial Protection Bureau (CFPB), Senators faced a choice. Would they stand up for fair rules of the road in the consumer financial marketplace, or would they side with the big Wall Street banks, and the bottom feeders in the lending industry?
Unfortunately, 45 Senators chose the latter. With unemployment still above 8.5%, and millions of foreclosures devastating families and communities, they chose to defend the status quo that allowed the deceptive and abusive lending at the heart of the financial crisis to flourish. With people struggling to make ends meet in hard times, they chose to protect payday lenders making 300% ‘debt trap’ loans. Now they are on the record. We do not think their constituents will be pleased.
AFR Letter: More Than 200 Organizations Urge Senate to Confirm Cordray
Together with more than 200 national, state, and local organizations, AFR signed a letter urging the Senate to confirm Richard Cordray as Director of the Consumer Financial Protection Bureau (CFPB.)
AFR Press Release: Updated: 200 Organizations sign on to letter in support of Cordray nomination.
FOR IMMEDIATE RELEASE December 7, 2011 For Interviews: John Carey at 202-466-1854 or john@ourfinancialsecurity.org Updated: 200 Organizations sign on to letter in support of Cordray nomination. National, State, and Local Organizations Call On U.S. Senators to Protect Consumers. *A Letter of support for General Cordray’s
Poll Demonstrates Broad Support for Financial Reform
An overwhelming majority of Americans—Republican, Democratic, and Independent—favor strong, sensible oversight of the financial services industry, including a strong and independent Consumer Financial Protection Bureau, the poll finds.
This Week in Wall Street Reform
Click here to view this week’s highlights and lowlights in Wall Street Reform – November 25, 2011 – December 2, 2011.
Coalition Press Advisory: House to Vote on Major Deregulation Bills That Would Pose a Serious Threat to Public Safety
As early as today, the House of Representatives is expected to vote on the “Regulatory Accountability Act (RAA) of 2011” (H.R. 3010) and the “Regulatory Flexibility Improvements Act” (H.R. 527). The “Regulations from the Executive in Need of Scrutiny (REINS) Act of 2011” (H.R. 10) is expected to come to the House floor for a vote early next week. All three of these bills attempt to grind the rulemaking process to a halt, thereby placing corporate interests ahead of public health, safety, environmental protection and a secure economy.