Tag Archives: Defend the CFPB

News Release: Payday Lender, Eastman Briefs Highlight Weak Legal Case Against CFPB

Washington, D.C. — Briefs filed by the payday lending lobby and John Eastman, the lawyer who tried to help former President Trump overturn the 2020 election, highlight the extremely weak legal case that this predatory industry has against the funding of the Consumer Financial Protection Bureau, a vital federal agency that polices the financial services market on behalf of everyday people. 

Blog: Awaiting the Supreme Court Hearing, the CFPB Continues to Defend Consumers

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.

CFPB

News Release: CFPB Proposed Rule will Bring Accountability for Financial Corporations

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.  

Media Advisory: Experts discuss judicial attempt to destroy CFPB funding  

Remarks and Q&A with prominent legal experts on the extreme attempt by the Fifth Circuit Court of Appeals to overturn CFPB’s payday lending rule and destroy the funding mechanism Congress created for the agency, a step that threatens to unleash chaos in consumer finance markets and inhibit the agency’s work in protecting consumers.

News Release: 5th Circuit Court of Appeal’s Decision on CFPB Funding is an Outrageous Undermining of Consumers’ Rights

On Wednesday, October 19, 2022, a three-judge panel in the 5th U.S. Circuit Court of Appeals agreed with the payday lenders trade association in ruling that the CFPB’s funding structure is unconstitutional because it does not go through Congressional appropriations. This line of attack toward the CFPB – via its funding – has nothing to do with actually caring about the constitution and everything to do with the big banks and predatory lenders trying to escape the oversight and enforcement actions of an agency focusing on protecting and defending consumers.