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New Report: CFPB Official Who Worked for Anti-LGBT Hate Group May Soon Have Power to Exempt Companies from Anti-Discrimination Laws
CLICK HERE for New Report from Allied Progress on How CFPB Office of Innovation Director Paul Watkins’ Ugly Anti-Equality Connections Could Be Reflected in His Official Work Washington D.C.– Ahead of Tuesday’s congressional hearing on fintech regulation, consumer watchdog group Allied Progress released a new report on how Paul Watkins, Director of the CFPB’s Office of…
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Betsy DeVos and Her “For-Profit College Crew” Give Industry Another Leg Up
The Education Department published a new 28-page college accreditor guide that will give for-profit colleges a head start under the guise of “streamlining” the process.
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ICYMI: American Banker: “Former CFPB Official Criticized For Blog Posts Joins Ginnie Mae”
Allied Progress and American Oversight went to court in March seeking CFPB records on new HUD appointee Eric Blankenstein.
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Trump’s HUD Gives Safe Harbor to Racist CFPB Official Eric Blankenstein
See Politico, June 19: ‘HUD hires former official at center of racial scandal’ . Reaction from Derek Martin, director of consumer watchdog group Allied Progress: “It was bad enough the Trump CFPB kept Mr. Blankenstein employed for months after his racist writings came to light, ironically to oversee their anti-discrimination efforts. But what’s the Trump HUD’s excuse for hiring…
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Economists Say Financial System Risks More Bailouts, Big Banks Say Financial System Is Too Safe, Want Less Regulation
SHOT: Bloomberg (Editorial), June 18: “On average, the six largest banks have about $7 in equity for each $100 in assets. That’s less than half what economists at the Minneapolis Fed estimate they need to make bailouts acceptably unlikely.” CHASER: In responses to Questions for the Record from the House Financial Services Committee (see below) the…
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DeVos Still Dragging Feet on Student Loan Disability Discharge Issue
See June 17th MarketWatch story ‘Student-loan borrowers with disabilities will be reimbursed after their Social Security checks were needlessly garnished’. Reaction from Allied Progress spokesman Jeremy Funk: “Where is the sense of urgency from Secretary DeVos? DeVos is dragging her feet to fix a system so broken that disabled student borrowers who qualify for federal…
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Kathy Kraninger Claims Evidence Guides Her Rulemaking … Just Not For Payday Loans
Washington D.C. (June 11th, 2019) –– In CFPB Director Kraninger’s first television interview since taking the post 6 months ago, she laid it on thick about how much evidence and data informs her rulemaking decisions. A curious thing to say on the heels of Kraninger’s final rule delaying protections from the payday loan debt trap that the…
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DeVos Lieutenant Heads Back Through Revolving Door to Lobby On Behalf of For-Profit Colleges and Loan Servicers
Washington D.C. (June 13th, 2019) — In response to reports that James Manning, acting Under Secretary of the DeVos Education Department, is departing for a lobbying gig at Penn Hill Group, which as of 2019, has been registered to lobby for National Council of Higher Education, “the nation’s oldest and largest higher education finance trade…
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Education Secretary DeVos Called Out by State AG Offices, Student Advocates at Congressional Hearing Over Lax Student Loan Servicer Oversight
“We don’t have a partner on the federal level when protecting students, in many ways we have an opponent.”
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How Apt: CFPB Director Kraninger Celebrates Her Six-Month Anniversary of Selling Out Consumers … by Keynoting a Bankers’ Conference
Allied Progress releases a new report, ‘6 Months of Failing Consumers.’