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Last-Ditch Trump OCC Rule Forces Banks to Back Industries of Ill-Repute
Adding to the unceremonious end of the Trump administration, acting Trump Comptroller of the Currency Brian Brooks finalized a ridiculous rule on his way out the door pressuring banking institutions to finance industries that pose reputational risk and have histories of harming consumers, like predatory payday lenders, big gun manufacturers, and dirty energy companies.
Trump CFPB’s Industry-Packed Task Force Predictably Offers Anti-Consumer Recommendations That Congress Should Roundly Reject
The Trump CFPB’s highly secretive, industry-packed Taskforce on Federal Consumer Financial Law released its recommendations for picking apart consumer protection laws today that no one outside of Wall Street lobbyists were asking for.
Trump CFPB Finalizes Rule Opening Floodgate to Debt Collection Harassment In Middle of Pandemic and Recession
Consumer watchdog Allied Progress renewed its calls on Trump Consumer Financial Protection Bureau (CFPB) director Kathy Kraninger to resign after the agency finalized its controversial proposed rule today allowing debt collectors to harass consumers with unlimited texts and emails without prior permission in the middle of a pandemic and recession.
Dodd-Frank Turns 10: Trump Administration’s Fair Lending Failures Underscore Need to Strengthen Law
On the ten-year anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act, consumer watchdog group Allied Progress released a report spotlighting how the Trump administration has worked to undermine fair lending protections and — as the recent PPP program showed — how much work there is left to do to make our financial system accessible to all.
Official Leading The Effort To Roll Back Debt Collection Rules Promoted To Number Two At Consumer Bureau
On the same day the Consumer Financial Protection Bureau (CFPB) gutted its payday lending rule, debt collector advocate and corporate lawyer Tom Pahl has been named as CFPB Deputy Director.
Kraninger Should Resign After Furthering Predatory Lending in Middle of a Recession
Consumer watchdog group Allied Progress is calling on Trump CFPB Director Kathy Kraninger to resign after selling out millions of vulnerable Americans to predatory lenders as the economy continues to slip further into recession, especially in communities of color.
SCOTUS Sides With Industry Over Consumers, Undermines Consumer Bureau’s Independence
Consumer watchdog group Allied Progress blasted the U.S. Supreme Court’s ruling today that undermines the independence of the Consumer Financial Protection Bureau by allowing the President to fire the agency’s director for no reason.
DeVos Once Again Shields Problematic Accreditor From Accountability
Chronically-troubled for-profit college accreditor, the Accrediting Council for Independent Colleges and Schools [ACICS], has reportedly received yet another break from Secretary Betsy DeVos’ Education Department with their decision to delay their evaluation until February 2021.
DeVos Aide Scuttles Student Debt Relief Website For Making Process “Too Easy”
The New Website From Federal Student Aid Would Have Allowed Student Borrowers To More Easily Apply For Relief After Being Defrauded.
Predatory Lenders Profiting Off Struggling Families During Recession, A Reminder Why CFPB Shouldn’t Gut Payday Protections
While over 20 million Americans have lost their jobs amid a worsening recession, the payday loan industry appears to be thriving as it skirts state usury protections to target vulnerable families online with triple-digit interest rates.