consumer Archives - Page 2 of 4 - Americans for Financial Reform

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Letters to Regulators: Letter to the FTC on Junk Fees

AFREF and partners led a letter to the FTC urging it to use its rulemaking authority to protect American consumers from junk fees and put money back into our pockets. Millions of consumers have expressed outrage at the imposition of service fees for live event tickets, “amenity” or “resort” fees charged by hotels, endless surprise rental car fees, hidden internet and cell phone charges, junk fees in the financial sector, and more. The federal government has taken a holistic approach to this problem, including the White House Competition Council, the Consumer Financial Protection Bureau (CFPB), the Department of Transportation (DOT) and now the FTC.

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: 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: New Cryptocurrency Bill a Giveaway to Industry in the Name of Innovation

Washington, DC – A bill introduced by Sens. Kirsten Gillibrand and Cynthia Lummis to revamp regulation of cryptocurrencies is little more than a giveaway to an industry that wraps itself in the mantle of innovation but poses serious risks to investors, consumers, and possibly even financial stability.

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.

News Release: National Auto Repair Chains Must Stop Offering Predatory Loans Through EasyPay Finance and TAB Bank

WASHINGTON – Today, a coalition of consumer advocacy groups sent letters to major national auto repair chains AAMCO and Precision Tune Auto Care (Icahn Enterprises), Big O Tires and Midas (TBC Corporation), Grease Monkey (FullSpeed Automotive), JiffyLube, and Meineke (Driven Brands) urging their stores and franchisees to stop offering financing through EasyPay Finance and Utah-based TAB Bank, which issue loans at rates up to 189%, even in states where that rate is illegal. The letters can be found here.

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.