NACA Joins Coalition Letter Opposing Anti-CFPB, UDAP Authority Bill

Publish Date: 
May 20, 2016
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A bill in Congress, H.R. 5112, would repeal the Consumer Financial Protection Bureau's authority to stop abusive acts and practices in consumer finance by striking the prohibition on abusive acts and practices from the U.S. Code.  NACA and other organizations, under the umbrella of Americans for Financial Reform, urged Congress to oppose this bill and other similar legislation that would dramatically undermine the CFPB by eliminating its authority to prohibit abusive acts and practices and by imposing unworkable procedural requirements that would make it effectively impossible for the CFPB to write critical rules.