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MUST READ: Philly Inquirer : ‘Your student loan servicers — Navient, Nelnet, and FedLoan — pay big bucks to CEOs and lobbyists’
Read the story HERE; reaction from Derek Martin, director of consumer watchdog group Allied Progress: “Like the mortgage crisis before it, the student debt crisis is rewarding those at the top handsomely while average Americans struggle under a $1.6 trillion weight on their shoulders. Just last week Secretary Betsy DeVos gutted rules designed to protect students…
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Say What?! New Trump Economic Report Claims More Payday Loans Will Raise Household Incomes
Trump Jumps Gun, Counts CFPB’s Proposed Rule Scrapping Payday Protections as a Given to Make Highly Dubious Conclusions Washington D.C. – File Under: Fantasy Land Economics. Today, Donald Trump’s Council of Economic Advisors released a new report that included one particularly eyebrow-raising claim: that unrestricted access to payday loans are good for household incomes. Despite a clear history of predatory practices and…
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Thanks to Lowered Standards Under Trump, Big Banks Coast Through Stress Tests
Trump, GOP Deregulatory Efforts Send Clear Message: We Don’t Care If Banks Can Weather the Next Recession Washington D.C. – It’s now reported all 18 of the biggest U.S. banks have passed this year’s stress tests, having met the minimum capital requirements that determine their ability to absorb losses in the event of an economic…
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As CFPB Comment Deadline Looms, Allied Progress Releases Top 3 Reasons Why Director Kraninger Should Strengthen Overdraft Fee ‘Opt-In’ Rule
Washington D.C.– As the July 1st deadline nears for public comment ahead of the Trump CFPB’s review of the “opt-in” rule for overdraft fees on debit and ATM cards, consumer watchdog group Allied Progress rolled out the Top 3 Reasons why Director Kraninger should build on the rule’s success. The 2009 “opt-in” rule has saved consumers billions of dollars by barring the…
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CFPB Official Paul Watkins Says He Only Worked For Hate Group’s Training Arm
CFPB Official Paul Watkins Claims His Work for Anti-LGBT Hate Group Didn’t Include Advocacy – If You Don’t Count Training the Next Generation of Anti-Equality Advocates Allied Progress Calls On Director Kraninger to Ensure Watkins Never Gets Power to Exempt Companies from Anti-Discrimination Laws Washington D.C.– As Senator Elizabeth Warren, U.S. Reps. Katie Porter and…
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CFPB Official Paul Watkins Called Out at Congressional Hearing Over Ties to Anti-LBGT Hate Group, Makes No Apologies, Feigns Ignorance of ADF’s Well-Documented History
Watkins responds to new Allied Progress report finding the CFPB’s Office of Innovation Director may soon have the power to exempt companies from anti-discrimination laws.
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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…