consumer protection Archives - Page 2 of 8 - Americans for Financial Reform

News Release: OCC Should Follow CFPB Lead in Drawing Tough Line on Repeat Offenders

The nation’s big-bank regulator, the Office of the Comptroller of the Currency, should help broaden and extend a crackdown on financial institutions that repeatedly violate the law – notably Wells Fargo – with all the tools at its disposal. Comptroller Michael Hsu is speaking on the problem of “too big to manage” today. The speech comes about a month after the Consumer Financial Protection Bureau ordered Wells to pay $3.7 billion over widespread mismanagement of auto loans, mortgages, and deposit accounts, and promised to work with other federal regulators to find durable solutions to its constant violations of the law.

Letters to Regulators: Letter to the CFPB Requesting Rulemaking to Ban Medical Debt from Credit Reports

AFREF joined 91 coalition partners in sending a letter to the CFPB in support of banning all medical debt from consumer credit reports. The letter asks the CFPB to take a step further and address this issue by beginning the rulemaking process to ban medical for medically necessary services.

Letters to Regulators: Letter to the CFPB on the Need for Action to Limit Forced Arbitration

AFREF joined a letter to the CFPB urging it to take action on the ongoing issue of forced arbitration in consumer financial services/products.

Letters to Regulators: Letter to FTC in Response to NPRM on Auto Financing

AFR joined a letter to the FTC in response to their Notice of Proposed Rulemaking on auto financing.

Letters to Regulators: Letter to CFPB in Response to Inquiry on Employer-Driven Debt

AFREF joined a letter to the CFPB in response to their inquiry on employer-driven debt.

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.

News Release: TAB Bank and EasyPay Finance’s Predatory Loans Harm Veterans and Servicemembers

WASHINGTON – The predatory lending practices of EasyPay Finance and Utah-based, FDIC-supervised Transportation Alliance Bank (TAB Bank) are hurting military servicemembers, veterans, and their families, according to a new report from a coalition of consumer advocacy groups released in advance of Memorial Day.

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 Congress: Letter in Support of the Consumer Protection Remedies Act of 2022

AFR joined a letter to Congress in support of S. 4145, the Consumer Protection Remedies Act of 2022. This bill would restore the Federal Trade Commission’s (FTC) authority to stop misconduct in the marketplace, and critically, to provide timely refunds and equitable relief to victims of consumer fraud and deception.

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.