Showing the Latest Allied Progress Results
Washington Post: What Regulating Payday Loans Is All About
Suggesting that the Consumer Financial Protection Bureau should bend over backwards to make sure people can get loans that will leave them unable to pay rent or put food on the table fundamentally misunderstands the purpose of regulating payday loans in the first place: to prevent financial devastation.
FloridaPolitics.com: Advocacy Group That Has Been Slamming DWS on Payday Loans Now Praises Her
Allied Progress, the D.C. based advocacy group that has been blasting Democratic National Committee Chair Debbie Wasserman Schultz for months for her support of of payday lending legislation that the group called “disastrous,” is now praising her. The group placed an a full page ad in the South Florida Sun-Sentinel applauding her and Congressman Patrick Murphy for now backing the Consumer Financial Protection Bureau’s push to rein in the payday loan industry.
American Banker: Who’s Behind the Campaign Attacking CFPB Chief Cordray?
There is some evidence that executives at Lincoln attempted to confront Cordray directly. During a May 5 field hearing on the arbitration proposal in Albuquerque, an audience member identified as Chuck Bowman asked Cordray if the plan was tied to his political ambitions. Consumer advocates, including Karl Frisch, an executive director at the progressive group Allied Progress, say Bowman is, in fact, Chuck Coolidge, a principal of Lincoln Strategy Group. Judging from a review of video of the hearing and Coolidge’s social media accounts, Coolidge bears a striking resemblance to Bowman.
Corporate Crime Reporter: New Report Details Revolving Door Between House Financial Services Committee and Industry
On the heels of House Financial Services Committee Chairman Jeb Hensarling unveiling his proposal to dismantle critical consumer financial protections enacted in 2010’s Dodd-Frank Wall Street Reform and Consumer Protection Act, Allied Progress is out with a new report detailing the revolving door between Hensarling’s committee and the financial industry and how key members of his committee staff have invested in and taken junkets from the very industry they’re paid to oversee.
Dallas Morning News: Sen. Elizabeth Warren Slams Dallas Rep. Hensarling’s Dodd-Frank Proposal as ‘Wet Kiss’ to Wall Street
Allied Progress, a left-leaning advocacy group, also accuses Hensarling of pandering to his deep-pocketed donors. Karl Frisch, executive director of Allied Progress, notes Hensarling has collected millions in campaign donations from the financial industry since 2010. Emerson dismissed that accusation, pointing out that Hensarling has opposed Dodd-Frank since its inception.
Washington Times: Debbie Wasserman Schultz Flips, Backs Payday Loan Crackdown Under Pressure From Left
“This is a wake-up call for progressives in Congress and every state legislature around the country. Getting in bed with the payday lending industry isn’t only bad policy, it’s bad politics,” said Karl Frisch, executive director for Allied Progress, which had been running television and digital ads blasting Ms. Wasserman Schultz and Mr. Murphy for their support of Florida’s payday lending laws.
Sun-Sentinel: Wasserman Schultz Supports Payday Loan Rules
“This is a wake-up call for progressives in Congress and every state legislature around the country. Getting in bed with the payday lending industry isn’t only bad policy, it’s bad politics,” Allied Progress executive director Karl Frisch said. Wasserman Schultz’s willingness to reconsider her position is a testament to her thoughtful leadership and our representative democracy.”
Newsweek: Moving Left, Debbie Wasserman Schultz Drops Opposition to Payday Loan Regulations
Karl Frisch, executive director of Allied Progress, called Wasserman Schultz’s move a victory. “This is a wake-up call for progressives in Congress and every state legislature around the country. Getting in bed with the payday lending industry isn’t only bad policy, it’s bad politics,” he said.
Tampa Bay Times: Wasserman Schultz Reverses Opposition to New Payday Lender Rules
Allied Progress, which ran ads against Wasserman Schultz, declared victory. “This is a wake-up call for progressives in Congress and every state legislature around the country. Getting in bed with the payday lending industry isn’t only bad policy, it’s bad politics,” said Allied Progress executive director Karl Frisch.
Common Dreams: Warren’s CFPB Cracks Down on Predatory Lenders—But Will It Be Enough?
On Thursday, Allied Progress executive director Karl Frisch declared: “It’s time for our Representatives in Congress to speak up and let us know where they stand. Do they support the CFPB’s proposed rule, or not? Will they champion the needs of their constituents and those caught in the payday lending debt trap or that of the predatory lenders who fill many of their campaign bank accounts?”