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‘Placemats’ Are the Trump CFPB’s Weapon of Choice for Stopping Scams. Meanwhile the Bureau Invites More Scams With Its Debt Collection Proposal
The Consumer Financial Protection Bureau (CFPB) under Donald Trump isn’t what it used to be. Its director, Kathy Kraninger, is a Mick Mulvaney acolyte who brought zero consumer finance experience with her to the job, only a promise to carry out her predecessor’s agenda of letting shady industries write their own rules. And Mulvaney must…
Senate Banking GOP Write Love Letter To Big Banks, Allied Progress Reacts
See July 30 Bloomberg Government piece, ‘GOP Senators Ask Regulators to Speed Up Bank Deregulation’. As Republican Senators beg the Trump administration to slash even more safeguards from the banking industry, Allied Progress Director Derek Martin had this to say in response: “In the wake of the big banks announcing $30 billion in profits last quarter, excuse us for not sharing…
Women Paying 30% More in Overdraft Fees Than Men Is Reason Enough Why Trump’s CFPB Shouldn’t Gut Overdraft Rules
See July 29 Bloomberg piece, ‘Women Pay 18% More in Banking Fees Than Men, Research Finds’. Reaction from Jeremy Funk, spokesman for consumer watchdog group Allied Progress: “It’s bad enough working women in America make 49 cents for every dollar a man makes. It’s insult to injury that the big banks have found a way to weasel substantially…
Allied Progress Letters to Chairs Cummings and Waters Encourage Investigation Into Whether Race Was Factor In Mulvaney-CFPB’s Anti-Fair Lending Efforts
Inquiry Calls Come In Response to Reports Mulvaney Gave “High Five” to Aide Upon Learning of His History of Racist Writings WASHINGTON, D.C. – In response to the revelation this week that then-CFPB Director Mick Mulvaney reacted with a “high five … sort of, celebration”upon learning last September of former CFPB and current HUD official Eric Blankenstein’s…
Senator Crapo Pens Love Letter to Big Banks as Support Dwindles Back Home
Crapo raked in $25K from banking industry last quarter alone, but not one nickel from people in Idaho.
New Allied Progress Ad Follows the Money, Finds Over 2 Million Reasons Why Debt Collection Industry Getting the Trump Red Carpet Treatment
Debt collection trade groups have spent over $2.1 million on federal lobbying since Trump took office, and debt collectors have donated over $343,000 to Republican political campaigns since 2016.
GOP Congressman Mac Thornberry ‘blocked restrictions on lenders near military bases while wife worked for bank lobby’
Congressman Thornberry’s two-faced treatment of our servicemembers is not isolated, it’s symptomatic of the predatory lending industry’s growing influence over Washington.
When Mick Mulvaney Learned Of Racist Blogger on Trump CFPB Staff, He Gave Blankenstein a ‘High Five’
The Trump administration had been accused of harboring racist views, but now we know they celebrate them as well.
Swamp Thing: CFPB Official Leading the Effort to Gut Debt Collection Rules to Be Toasted at Debt Industry Conference
How can CFPB Director Kathy Kraninger’s efforts to overhaul debt collection rules possibly be impartial and fair to consumers, when her top aide overseeing the effort (Tom Pahl) is speaking at a swanky debt industry summit?
NYT Report Shows DeVos Aide Helped Keep Failing For-Profit Colleges Alive and Students Paid the Price When They Collapsed
DeVos’ top lieutenant, Diane Auer Jones, kept a fly-by-night company on life support just long enough to cheat thousands of students out of their tuition money with no degree to show for it.