Latest News
Showing the Latest Consumer Financial Protection Bureau (CFPB) Results
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The Revolving Door and High Flying Conflicts of Hensarling’s House Financial Services Committee
New report details revolving door between committee and industry, staff raking in benefits from industry they’re paid to oversee.
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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.
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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.
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With Wasserman Schultz Reversal, Push to Expand Disastrous “Florida Model” of Payday Lending is Dead
Allied Progress: “This was only possible because two important things happened. Tens of thousands of Americans made their voices heard and people like Wasserman Schultz and Murphy listened.”
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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?”
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Consumer Affairs: CFPB’s Plan to Clean up Payday Loans Faces Stiff Opposition
Allied Progress, the liberal advocacy group that “outed” Wasserman Schultz, says many other Congressional representatives are in the pocket of payday loan interests. “Payday lenders have spent millions of dollars currying favor with powerful Washington politicians and they will do whatever it takes to keep this extremely lucrative predatory racket humming along,” said Karl Frisch, the group’s director.
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Salon: New Regulation Proposal Won’t Do Enough to Rein in Predatory Payday Lenders, Consumer Groups Say
Progressive non-profit organization Allied Progress says this is just industry hoopla. It praised the proposal, but encouraged the CFPB to further strengthen protections for consumers. “While this is a good start and an important step in the right direction, the fight is far from over,” said Allied Progress Executive Director Karl Frisch in a statement.
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The Hill: Trade Group Threatens to Sue CFPB Over Payday Loan Rules
“While this is an important step in the right direction, the fight is far from over,” Karl Frisch, executive director of Allied Progress, said in a statement. “Payday lenders have spent tens of millions of dollars currying favor with powerful politicians and they will do whatever it takes to keep this predatory racket running. We owe it to hard working men and women everywhere to remain vigilant and fight on until the debt trap is ended once and for all.”
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Will Members of Congress Support CFPB’s Proposed Rule to Rein in Predatory Payday Lenders?
Allied Progress is calling on members of Congress to announce whether they support or oppose the CFPB’s predatory payday lending rule.
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100’s of Organizations Join Efforts to Raise Awareness and Collect Public Comments on CFPB Rule to Rein In Predatory Payday Lending
With CFPB’s proposed rule to rein in predatory payday lenders expected tomorrow, groups unveil StopPaydayPredators.org to gather public comments.