AFREF joined partners in sending a letter with detailed recommendations in response to the joint RFI on financial institutions’ use of AI and ML. The post Letters to Regulators: Joint Letter on Use of AI appeared first on Americans for Financial Reform.
AFREF sent a letter to the Department of Education calling for several topics to protect borrowers in the upcoming negotiated rulemaking, and also urging the Department to administratively cancel student debt. The post Letters to Regulators: AFREF Letter to the Department of Education on Upcoming Negotiated Rulemaking appeared first on Americans for Financial Reform.
AFREF and 22 organizations submitted comments in response to the regulators’ Request for Information and Comment on Financial Institutions’ Use of Artificial Intelligence, including Machine Learning, urging the financial regulators to consider fair lending risks of using artificial intelligence and machine learning and enact safeguards to prevent disproportionate adverse impacts from the use of AI/ML […]
AFREF, NCLC, NFHA and NHLP sent a letter to the CFPB, FRB, FDIC, OCC, NCUA and CSBS asking the agencies to update the April 3, 2020 Joint Statement on Supervisory and Enforcement Practices Regarding the Mortgage Servicing Rules in Response to the COVID-19 Emergency and the CARES Act to restore key supervisory and enforcement tools […]
On September 10, 2019, 17 civil rights, consumer and housing advocacy organizations sent a letter to the CFPB addressing QM and urging the Bureau to take additional steps to preserve access to affordable homeownership with adequate consumer protections in place.
Tomorrow marks one hundred fifty days since Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger committed to quickly filling the nation’s top student loan watchdog position—a role that has been vacant for almost a year. As student debt nears $1.6 trillion and predatory practices plague the market, the Student Borrower Protection Center (SBPC) and Americans for Financial Reform Education Fund (AFREF) are releasing a roundup of failures by the current CFPB Director to stand up for student loan borrowers.
letter to CRAs urging credit relief for federal contractors and small businesses affected by shutdown
Letter to CRAs urging credit relief for consumers affected by natural disasters
Letter to CRAs urging them to take steps to protect the credit reports of federal workers affected by the government shutdown
The rule, which was years in the making, created vital protections for consumers of payday, car title, and some longer-term loans to ensure that predatory lenders don’t trap customers in unaffordable loans. Underlying the rule is the common-sense principle that lenders should consider whether borrowers have the ability to repay a loan before they risk their financial well-being.