“An effective consumer financial protection agency saves families billions of dollars a year, and makes their economic lives more secure. It fights lending discrimination, and shuts down tricks and traps” said Lisa Donner, executive director of Americans for Financial Reform. “Unfortunately, the evidence keeps piling up that the current leadership at the agency is focused on rolling back protections and enabling bad financial actors to rip people off. It is so important that members of Congress continue pressing the CFPB to live up to its consumer protection mandate and fulfill its basic responsibilities, as the House has in passing the Consumers First Act today.”
Ten years after the financial crisis, a majority of members of Congress have voted again and again for bills pushed by the bank lobby that are dangerous for our financial stability, undermine consumer and investor protections, and enable racial discrimination in lending. The report, entitled “Where They Stand on Financial Reform,” lays out how each lawmaker voted.
This comprehensive guide details how members of the 115th Congress voted on bills and nominations related to financial reform.
The House vote to approve this legislation, largely written by Citibank lobbyists, reminds us that Wall Street is still doing everything in its power to protect the status quo that caused the financial crisis… The good news is that 122 House members voted No this time. What started out as a backroom deal between bank lobbyists and legislators wound up being an uncomfortable vote for the dealmakers. That makes it much less likely that the Senate will act, and more likely that the swaps push out provision will finally be implemented.
AFR sent a letter to members of Congress yesterday regarding a piece of legislation that would threaten the ability of the CFPB to sufficiently protect consumers. If enacted, this bill would virtually guarantee that the CFPB would be a weak and timid agency without the will or ability to curb the kind of financial abuses that caused the nation’s worst financial crisis since the Great Depression.
Read our letter opposing language in the FY2011 Appropriations Bill that would weaken the Consumer Financial Protection Bureau here.
FOR IMMEDIATE RELEASE DATE: March 2, 2011 CONTACT: John Carey at 202-466-1854 firstname.lastname@example.org Proposed Funding Cuts Put Consumer Protections and Economy in Peril Durbin, small business leader join AFR in opposing CFPB cuts that would not subtract a dime from the deficit Washington, DC
DATE: December 17, 2009 Washington, DC – Just days after top banking executives met with President Obama and said they would close the gap between their support for financial regulatory reform and “the activities of lobbyists on behalf of these institutions or associations of which
Americans for Financial Reform supported H.R. 4173, the Wall Street Reform and Consumer Protection Act of 2009, which will provide much-needed financial regulations and calls for the creation of a Consumer Financial Protection Agency. Read our statement about the bill here. The Act passed by
House Advances Financial Reform, Consumer Financial Protection Agency — Major Step for American Families
FOR IMMEDIATE RELEASE DATE: December 11, 2009 House Advances Financial Reform, Consumer Financial Protection Agency A Major Step for American Families Washington, D.C. – Americans for Financial Reform released the following statement upon passage of H.R. 4173 “Wall Street Reform and Consumer Protection Act of