Letters to Regulators: Letter to CFPB Director Rohit Chopra on the Need for Pre-Foreclosure Protections in 2022

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.

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Letters to Regulators: Letter to CFPB Expressing Concerns About the Treatment of Earned Wage Access Products

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.

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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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