Comment Letters

October 19, 2018 | Filed under: Other Areas of Interest | Tagged with: Tax

NACA publishes report on the issue of taxing consumers on attorneys' fees awarded under consumer protection statutes. 

May 29, 2018 | Filed under: Other Areas of Interest | Tagged with: CFPB

"The bureau must reject dangerous proposals in this RFI process, regarding External Engagements and other key agency functions such as Investigations, Enforcement, Rulemaking and Complaint Response, that would sabotage its work and mission to ensure consumers are treated fairly by powerful financial institutions. The bureau must continue its record of seeking public input and taking action to hold bad actors accountable for wrongdoing and harm they cause."

May 14, 2018 | Filed under: Other Areas of Interest | Tagged with: CFPB

NACA submitted comments in response to the Consumer Financial Protection Bureau's Request for Information on its Enforcement Processes. NACA is concerned that the CFPB has issued this and other public Requests for Information as an opening to revamp its internal processes and hinder activities meant to protect consumers and the financial markets.

 

May 11, 2018 | Filed under: Other Areas of Interest | Tagged with: Tax

May 11, 2018 | Filed under: Other Areas of Interest | Tagged with: Tax

April 26, 2018 | Filed under: Other Areas of Interest | Tagged with: CFPB

NACA submitted comments responding to the Consumer Financial Protection Bureau’s (CFPB or bureau) Request for Information Regarding Bureau Civil Investigative Demands and Associated Processes.

NACA is concerned that the CFPB has issued this and other public Requests for Information to begin an effort to revamp its internal processes and functions for the benefit of covered financial entities and to the detriment of consumers and the financial markets. CFPB investigations and ensuing enforcement actions have had spectacular results, benefitting tens of millions of consumers across the country. The bureau must refrain from making any changes that would hamper its ability to fulfill its statutory mission to protect consumers in the financial marketplace, including its ability to initiate and carry out investigations of potential violations of consumer financial protection laws. 

April 11, 2018 | Filed under: Other Areas of Interest | Tagged with: CFPB

In its letter to the House Financial Services Committee for its hearing on the CFPB Semiannual Report to Congress, NACA said: "Since the CFPB’s inception, NACA has supported the bureau’s mission and commended its tremendous commitment to curbing predatory and illegal business practices in the consumer finance sector. However, the agency’s recent actions (and inaction) over the last several months indicate a willingness to abandon its duty to protect consumers in the financial marketplace. We urge you to (1) call on the President to name a qualified nominee for CFPB director for formal consideration by the U.S. Senate, (2) support the bureau’s payday loan rule and oppose any efforts to weaken or eliminate it, and (3) demand that the bureau’s current “acting” leadership act in good faith to carry out his temporary responsibility to make the financial marketplace fair for consumers."

April 11, 2018 | Filed under: Other Areas of Interest | Tagged with: CFPB

In a letter to the Senate Banking Committee which was holding a hearing on the Consumer Financial Protection Bureau's Semiannual Report, NACA said,

"...NACA has supported the bureau’s mission and commended its tremendous commitment to curbing predatory and illegal business practices in the consumer finance sector. However, the agency’s recent actions (and inaction) over the last several months indicate a willingness to abandon its duty to protect consumers in the financial marketplace. We urge you to (1) call on the President to name a qualified nominee for CFPB director for formal consideration by the U.S. Senate, (2) support the bureau’s payday loan rule and oppose any efforts to weaken or eliminate it, and (3) demand that the bureau’s current “acting” leadership act in good faith to carry out his temporary responsibility to make the financial marketplace fair for consumers."

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