AFR EF Statement: Court Sides with Students Over DeVos’s Pro-Corporate Agenda

FOR IMMEDIATE RELEASE October 16, 2018 CONTACT: Alexis Goldstein, alexis@ourfinancialsecurity.org, 202-973-8005 Americans for Financial Reform Education Fund applauds the news that a court has rejected the for-profit college industry’s attempt to stop the 2016 Borrower Defense rule. Today, the United States District Court for the District of Columbia sided with students over Betsy Devos’s attempts to let […]

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AFR Statement: Statement on Appointment of Andrew Smith as Head of FTC Bureau of Consumer Protection

“The least likely candidate to run the FTC’s consumer protection unit ought to be the former lawyer for a notorious payday lender that the FTC itself pursued for a billion-dollar settlement and who is now in prison on a racketeering conviction,” said José Alcoff, Payday Campaign Manager at Americans for Financial Reform.

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Joint Letter: 8 Organizations Warn Regulators Against Bank Payday Loans and Rent-a-Bank Arrangements

“Deposit advance” loans are payday loans, pure and simple, and data clearly show they create the same debt trap caused by non-bank payday loans. High-cost longer-term loans facilitated by banks and credit unions would also cause customers substantial harm. We also urge you to ensure that all financial institutions engaged in small dollar lending (1) […]

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AFR Statement: Closing the CFPB’s Office for Students is like shuttering the fire department in the middle of a fire

“America is facing an ongoing student debt crisis, with outstanding student debt surpassing $1.5 trillion and over 8 million borrowers in default on their student loans. Closing the Office for Students is like shuttering the fire department in the middle of a three-alarm fire,” said Alexis Goldstein, senior policy analyst at Americans for Financial Reform.

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