Today, the Consumer Financial Protection Bureau (CFPB) finalized its Personal Financial Data Rights proposal, a long-overdue measure that can help create a more consumer-friendly and competitive financial services marketplace.
The just-filed Department of Justice lawsuit against Visa marks a necessary, but not the only, step needed to challenge the anticompetitive practices by the credit card and payment processing company that penalize consumers and restrains robust competition.
As the focus on the American voter intensifies with the coming election, a new poll released today shows voters across the political spectrum overwhelmingly support the mission of the Consumer Financial Protection Bureau (CFPB), financial regulation generally, and a variety of specific CFPB actions, including efforts to limit credit card late fees, reduce overdraft charges, and prohibit medical debt from appearing on credit reports.
The Americans for Financial Reform Education Fund said in an April 15 letter that the OCC is still too predisposed to approve deals, despite the focus on negative merger characteristics in the national bank regulator’s proposed policy statement. “The thematic flaw in the proposed policy statement is that its fundamental orientation is to approve mergers and not to evaluate merger applications,” the group said.
Despite being in a legal fight for its very existence, the Consumer Financial Protection Bureau continues to carry out its mission to promote fairness and transparency in our financial system and ensure that consumers are protected from predatory and deceptive practices. Its ability to perform under pressure is one more reason why we need a strong CFPB.
Washington, D.C. — The Consumer Financial Protection Bureau (CFPB) today issued a policy statement on how it defines prohibited abusive conduct against consumers.
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.
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.
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.
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.