Senator Elizabeth Warren (D-Mass), the ranking member of the Senate Banking, Housing, and Urban Affairs Committee will host a forum today to investigate the Trump administration’s illegal efforts to dismantle the Consumer Financial Protection Bureau (CFPB).| Americans for Financial Reform
At a time when far-right forces are literally dismantling the government, including stripping away most agencies' regulatory and oversight capacity, further deregulation of the financial system would be a dangerous mistake that would help advance the far-right’s democracy-grab. The House and Senate Republicans are advancing so-called capital formation legislation that purports to be about helping companies raise capital but are really about undermining investor protections and exposing smal...| Americans for Financial Reform
News Release: Thirty Groups Call on Senate to Make Wall Street Pay Its Fair Share| Americans for Financial Reform
A new poll shows Americans strongly support the CFPB’s mission as well as its rules lowering overdraft fees, tracking small business lending inequalities, and prohibiting medical debt from appearing on credit reports.| Americans for Financial Reform
The House Financial Services Committee Financial Institutions Subcommittee convened a hearing today that will do little but air the grievances of the banking lobby over the highly effective work done by the Consumer Financial Protection Bureau (CFPB).| Americans for Financial Reform
While Elon Musk attacks federal agencies’ ability to protect us from the worst excesses of corporate power, a little known Musk initiative sailed through the Delaware legislature this week. Delaware’s corporate law drew Musk’s ire when its well-regarded Court of Chancery sided with Tesla shareholders and tossed out his $56 billion pay package.| Americans for Financial Reform
This week, Republicans in Congress introduced a resolution to undo a Consumer Financial Protection (CFPB) rule that prevents medical debt from capsizing people’s credit scores. More than 100 million people have medical debt and it shows up on the credit reports of 15 million people.| Americans for Financial Reform
The Trump administration has joined a group of big banks in an effort to destroy a vital safeguard against credit card junk fees that would have saved consumers $10 billion per year. As documented by AFR’s Wall Street Ripoff Counter, every day this CFPB rule is not in place, credit card users lose $2.7 million. To date, the bank lawsuit and now the Trump administration actions have cost consumers over $8.3 billion.| Americans for Financial Reform
Today, over 100 community, civil rights, privacy, consumer, labor, technology, small business, and other organizations delivered a letter urging the U.S. Senate to oppose a resolution to rescind the Consumer Financial Protection Bureau’s (CFPB) digital payment app oversight rule.| Americans for Financial Reform
News Release: Senate Approves Unfit Leader for the Securities and Exchange Commission| Americans for Financial Reform
News Release: AFR Statement on Approval of Capital One-Discover Merger| Americans for Financial Reform
Today, the Consumer Financial Protection Bureau, which has been largely shut down by Elon Musk’s team and Acting Director Russell Vought, pulled the plug on a lawsuit against an online lender, SoLo Funds, that the agency had alleged was deceiving borrowers and imposing deceptive fees on more than half a million borrowers.| Americans for Financial Reform
The Trump White House unveiled a new executive order that illegally undermines the congressionally-mandated independence of federal agencies that have a statutory obligation to regulate impartially in order to protect the public. A fact sheet that accompanied the executive order singled out the Securities and Exchange Commission, which regulates the stock markets, the Federal Trade Commission, which enforces antitrust law and consumer protection statutes, and the Federal Election Commission, ...| Americans for Financial Reform
Today, a comprehensive new joint report published by Americans for Tax Fairness, the Private Equity Stakeholder Project, and Americans for Financial Reform Education Fund exposes the often destructive impacts of the private equity (PE) industry on consumers, workers, and communities. In addition to providing several first-person stories of the havoc wrought by private-equity investment, the report details how the tax code makes the industry even more profitable and wealthy PE owners even rich...| Americans for Financial Reform
The Private Equity Climate Risks project unveiled an update to its public database of the energy holdings of 20 of the world’s largest private equity firms, the Private Equity Energy Tracker, bringing into focus the latest state of private equity investments in the energy sector.| Americans for Financial Reform
President Donald Trump today caved in to pressure from Wall Street and Big Tech and fired Rohit Chopra, the director of the Consumer Financial Protection Bureau. During the campaign, Trump dangled measures like caps on credit card interest rates, Trump is now sacking someone whose years of work on behalf of consumers benefited families across the country.| Americans for Financial Reform
News Release: AFR Statement on Approval of Capital One-Discover Merger| Americans for Financial Reform
News Release: AFR Statement on Escalating Attacks on the CFPB and the Communities It Protects| Americans for Financial Reform
In the News: Federal judge blocks Musk team’s effort to shutter top consumer agency| Americans for Financial Reform
The Consumer Financial Protection Bureau (CFPB) has finalized a rule allowing it to supervise larger nonbank companies that offer services like digital wallets and payment apps, also known as peer-to-peer or P2P apps. Supervision of these companies will make sure they comply with the law and do not facilitate fraud. Banks are already supervised for these same reasons, and this rule will level the playing field to make sure all payments are safe, whether offered by a bank or a nonbank company.| Americans for Financial Reform
The Consumer Financial Protection Bureau’s (CFPB) new overdraft fee rule closes a paper-check era loophole that has promoted abusive practices and allowed the biggest banks to earn billions in profits off of the most vulnerable families. The rule will help everyone, but especially families that are struggling with high prices and making ends meet.| Americans for Financial Reform
The Consumer Financial Protection Bureau’s (CFPB) Personal Financial Data Rights Rule (Rule 1033) helps create a more consumer-friendly and competitive financial services marketplace by allowing people to easily and securely move their personal financial data between financial institutions. Prior to this rule, many banks and financial institutions limited how consumers could use their financial data, which made it difficult for people to comparison shop, manage money, use new technology, or...| Americans for Financial Reform
The Consumer Financial Protection Bureau’s (CFPB) final rule to remove medical bills from most credit reports will prohibit credit reporting companies like Equifax, TransUnion, and Experian from sharing medical debt information with lenders as well as barring lenders from considering these medical debts in underwriting decisions.| Americans for Financial Reform
The Consumer Financial Protection Bureau (CFPB), created after the devastating 2008 financial crisis, exemplifies the government working for the people by vigorously protecting consumers and their families, including by reducing junk fees and holding corporations and financial institutions accountable when they engage in unfair and illegal conduct. Since its creation, the CFPB has stood up for the little guy against Wall Street, predatory lenders, and other financial services companies, by cr...| Americans for Financial Reform
The Department of Treasury’s Federal Insurance Office (FIO) released a report revealing how climate change is making homeowners insurance more expensive and harder to obtain across the United States. The report analyzes zip code level data—much of which was also released—obtained from insurers by FIO and the National Association of Insurance Commissioners (NAIC).| Americans for Financial Reform
The CFPB’s proposal would prohibit financial companies from forcing consumers to surrender their fundamental rights in take-it-or-leave-it contracts that are used for everyday services such as bank accounts, credit cards, and payment apps on smart phones.| Americans for Financial Reform
Americans for Financial Reform applauds today’s announcement of action against the nation's three largest banks, Bank of America, JPMorgan Chase, and Wells Fargo, for failing to protect consumers from widespread fraud and risky activity on Zelle, the most widely available peer-to-peer payment network.| Americans for Financial Reform
WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CPFB) issued an important final rule on residential Property Assessed Clean Energy (rPACE), a form of green lending used to cover the cost of home improvements which is most commonly used for energy efficiency improvements and solar panel installations.| Americans for Financial Reform
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.| Americans for Financial Reform
