CFPB

"Business of Insurance" Bill Could Unnecessarily Limit CFPB Authority

Publish Date: 
December 18, 2017
Type: 
legislative

Groups oppose HR 3746, the Business of Insurance Regulatory Reform Act of 2017 which would limit the CFPB’s authority to enforce federal consumer financial protection laws against entities that are regulated by a state insurance regulator to the extent such person is engaged in the business of insurance. The bill could have wide-ranging impacts that infringe on the CFPB’s core authority to address problems with consumer financial products and services.

Post-Equifax Breach, NACA Urges Senate Committee to Support Strong Consumer Protections

Publish Date: 
October 3, 2017
Type: 
legislative

NACA submitted a letter to the U.S. Senate Banking Committee to share its views for the Oct. 4 hearing on the Equifax cybersecurity breach. The Equifax breach is an object lesson on the consequences of a powerful entity that lacks adequate controls and incentive to act responsibly and in good faith in the marketplace.

NACA Urges U.S. Senate to Oppose Repeal of Rule Limiting Forced Arbitration

Publish Date: 
September 26, 2017
Type: 
legislative

National Association of Consumer Advocates (NACA), a national nonprofit association actively engaged in promoting a fair and open marketplace that forcefully protects the rights of consumers, particularly those of modest means, urged U.S. Senators to oppose S.J.Res.47 and H.J.Res.111, a resolution under the Congressional Review Act (CRA) that would repeal the arbitration rule issued by the Consumer Financial Protection Bureau (bureau).

NACA in the News: New rule subjecting banks to class-action suits faces repeal by Republicans (The Morning Call)

Release Date: 
July 26, 2017

The Morning Call, New rule subjecting banks to class-action suits faces repeal by Republicans "“Wells Fargo’s illicit acts of opening millions of accounts without customers’ consent would have come to light much earlier if consumers could go to court against the big bank,” said Christine Hines, legislative director of the National Association of Consumer Advocates.

U.S. House Chooses Bank Lobbyists’ Demands Over Constituents’ Legal Rights

Release Date: 
July 25, 2017

July 25, 2017  

For Immediate Release:                       

In Voting to Repeal Arbitration Rule, U.S. House Chooses Bank Lobbyists’ Demands Over Constituents’ Legal Rights

Washington, D.C. - The U.S. House voted to approve a resolution under the Congressional Review Act that would repeal a rule on arbitration issued by the Consumer Financial Protection Bureau.

NACA Urges House to Reject Proposal That Would Repeal CFPB Arbitration Rule

Publish Date: 
July 25, 2017
Type: 
legislative

NACA submitted a letter to the U.S. House of Representatives urging opposition to H.J. Res. 111, a resolution under the Congressional Review Act (CRA) that would repeal the arbitration rule issued by the Consumer Financial Protection Bureau (bureau). H.J. Res. 111 would give the financial sector a pass to once again take away Americans’ legal rights that the bureau has rightfully restored.

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