AFREF joined a letter to the CFPB in response to their inquiry into Big Tech payment platforms. The letter urges the CFPB to require person-to-person payment providers to protect consumers from fraud and errors, and to work with the Federal Reserve Board to ensure protections are in place before the Fed launches its new FedNow […]
View or download a PDF of the letter here. AFREF joined a letter urging the CFPB to carefully examine fintech credit products and fee models that are evading consumer protection laws and creating debt traps for consumers. The letter states that the CFPB should supervise The post Letters to Regulators: Letter Urging the CFPB to […]
AFREF, American Economic Liberties Project and Revolving Door Project sent a letter to the CFPB in response to their inquiry into Big Tech payment platforms. The letter expresses concern about Big Tech exploitation of digital payments technology, and expresses support for their recently opened inquiry into Big Tech’s power in this vital and growing market. The post […]
AFREF joined a letter to the CFPB highlighting the need for access to their online complaint system in Spanish. The post Letters to Regulators: Letter to the CFPB on the Need for Access to the Online Complaint System in Spanish appeared first on Americans for Financial Reform.
AFREF joined a letter to CFPB Director Rohit Chopra urging for pre-foreclosure protections in 2022 due to the on-going Covid-19 pandemic. The post Letters to Regulators: Letter to CFPB Director Rohit Chopra on the Need for Pre-Foreclosure Protections in 2022 appeared first on Americans for Financial Reform.
AFREF joined a letter to CFPB Director Rohit Chopra expressing concerns about the treatment of earned wage access products. The post Letters to Regulators: Letter to CFPB Expressing Concerns About the Treatment of Earned Wage Access Products appeared first on Americans for Financial Reform.
“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) […]
“What Mulvaney is really interested in is not serious research, but information that advances the interests of the Wall Street banks and predatory lenders he serves.”
“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.