AFR Statement: No Budget Riders Weakening Wall Street Reform or CFPB
Congress should abandon budget rider proposal that would eliminate independent funding for the CFPB and other poison pills.
Tag Archives: Congress
AFR Statement: Equifax Earnings Highlight Broken Model of Credit Reporting
The hack may even have been a boon to the bottom line of credit reporting companies, which charge consumers to freeze their credit report or monitor their credit, even though consumers are seeking these protections due to this massive breach.
AFR Statement: Monopoly Man Highlights Need for Congress to Act on Consumer Rights
But the question is, what will Congress do after a hearing on data breaches? Will they act to restore our right to control information about our own lives, and protect our privacy, or will they let Equifax and other data brokers turn the problems they caused into an excuse for undermining existing state laws with a sham weaker federal standard that replaces them? Will they restrict access to the courts?
AFR Statement: Oppose Giveaways to Wall Street and Predatory Lenders in Appropriations Bill
It would gut the Consumer Financial Protection Bureau, enable reckless behavior by big banks, and hand a special favor to payday lenders. Lawmakers should reject this legislation out of hand.
AFR Statement: Oppose OCC Bid to Control Consumer Protection
The OCC’s proposals would directly weaken financial regulatory protections and push aside other agencies so the OCC could take critical guardrails off of Wall Street on its own
Letter to Congress: Oppose H.R. 10 – The Wall Street’s CHOICE Act Would Devastate Financial Regulation
“H.R. 10, the ‘Financial CHOICE Act’… would be better dubbed ‘Wall Street’s CHOICE Act,’ as it would have a devastating effect on the ability of regulators to protect consumers and investors from Wall Street exploitation and the economy from financial risks created by too-big-to-fail megabanks. It would expose consumers, investors, and the public to greatly heightened risk of abuse in their regular dealings with the financial system, and our economy as a whole to a far greater risk of instability and crisis.”
AFR Statement: House Committee Approves Gift to Wall Street and Predatory Lenders
The committee has passed a bill that would give Wall Street and assorted predatory lenders a free hand to abuse consumers and investors, and would increase the likelihood of another financial crisis. If it became law it would make life harder for American families and for small businesses of all types.
AFR Testimony: Reject Wall Street’s CHOICE Act
“This legislation would be better dubbed ‘Wall Street’s CHOICE Act,’ because it would have a devastating effect on the capacity of regulators to protect the public interest and defend consumers from Wall Street wrongdoing and the economy from risks created by too-big-to-fail financial institutions.” — testimony at House Financial Services Committee hearing, April 26
Letter to Congress: Enhanced Financial Protections for Small Businesses
“Small businesses are a primary driver of job growth and wealth creation in the United States, providing more than half the country’s jobs and two-thirds of net new jobs. …There is a strong and growing consensus that small businesses should have stronger federal protections in the financial marketplace. …The best agency to oversee protections for small businesses is the CFPB. The CFPB is the primary enforcer of the core statutes that protect borrowers and other users of financial services against misconduct.”
AFR Report: Wall Street Lobby and Campaign Cash Tops $2 Billion for 2016 Elections
During the 2015-16 election cycle, Wall Street banks and financial interests spent more than $2 billion to influence decision-making in Washington, according to a report released today by Americans for Financial Reform. That total, derived from an exclusive data set, works out to more than $2.7 million a day.