Letters to Regulators: Comment Letter to the CFPB on Employer-Driven Debt
AFREF sent a letter to the CFPB in response to their Request for Information regarding employer-driven debt.
Tag Archives: CFPB
In The News: Bank lobbyists’ attacks on CFPB obscure the real ‘rogues’ (American Banker)
Polling [from Americans for Financial Reform] has consistently found that the public likes having a strong CFPB. It’s why banking lobbyists try to harp on images of government bureaucrats telling people what to do. But the public on the whole appreciates that the financial services industry is massive and powerful; it put nearly $3 billion into the 2020 elections, [according to AFR research].
News Release: AFR Criticizes U.S. Chamber’s Attack on CFPB
WASHINGTON-D.C. — The irony of the U.S. Chamber of Commerce, which has numerous corporate lawbreakers among its members, complaining about a government agency busting corporate lawbreakers is almost too thick for words.
Blog: Structural Racism Flourishes in the Auto Lending Market
In much of America, owning a car is necessary to participate in the economy, and to live a full and vibrant life. However, this ticket to opportunity comes at an increasingly steep price – as of 2021, Americans owe $1.42 trillion in auto loan debt.
Letters to Regulators: Letter in Response to CFPB NPRM Regarding the Prohibition on Inclusion of Adverse Information in Consumer Reporting in Cases of Human Trafficking
AFREF joined a letter in response to the CFPB’s Notice of Proposed Rulemaking regarding the Prohibition on Inclusion of Adverse Information in Consumer Reporting in Cases of Human Trafficking.
Statement for the Record: AFR Submits a Statement for the Record for HFSC’s CFPB Oversight Hearing
In this statement, AFR focuses in particular on the CFPB’s recent enforcement successes, the need to retain its authority, and some of the CFPB’s existing and future priorities.
News Release: Consumer Advocates Urge CFPB to Protect Consumers From “Junk Fees”
WASHINGTON – In response to the Consumer Financial Protection Bureau’s (CFPB) call for public input on how to save Americans billions in junk fees charged by financial companies, leading consumer advocacy organizations submitted an extensive comment letter detailing junk fees across a wide range of consumer financial products and services. The letter was submitted by Americans for Financial Reform (AFR), the Center for Responsible Lending (CRL), Consumer Federation of America (CFA), the National Community Reinvestment Coalition (NCRC), and National Consumer Law Center (NCLC) (on behalf of its low-income clients).
Letters to Regulators: Letter in Response to the CFPB’s Request for Information on Junk Fees
AFR joined CRL, CFA and NCLC in sending a comment letter to the CFPB in response to their request for information on junk fees.
Letters to Regulators: Letter in Response to the CFPB’s Inquiry into Buy Now, Pay Later
AFREF joined a letter to the CFPB in response to their inquiry into Buy Now, Pay Later (BNPL) credit products that are proliferating across market areas.
News Release: Groups Urge CFPB to Treat “Buy Now Pay Later” Products Like Credit Cards and Protect Consumers from Harmful Practices
WASHINGTON – More than 75 consumer, housing, civil rights, legal services, faith, community, small business, student borrower, and public interest organizations submitted a joint comment letter to the Consumer Financial Protection Bureau (CFPB) concerning Buy Now, Pay Later (BNPL) credit products. The groups are alarmed by the lack of regulation of this credit product, which is exploding in use, and urge the CFPB to view BNPL products as credit cards covered by the Truth in Lending Act (TILA), to start supervision of this market, and to look out for practices that harm consumers.