CFPB

NACA Urges NO vote on "Financial Choice Act" in the U.S. House

Publish Date: 
June 7, 2017
Type: 
legislative

NACA urges U.S. House members to vote NO on the Financial CHOICE Act of 2017 (H.R. 10). The bill would dismantle the Dodd-Frank Wall Street Reform and Consumer Protection Act, passed in 2010 to remedy the flaws in the U.S. economic system that invited reckless conduct and ushered in the 2008 Great Recession. In particular,  NACA urges rejection of the dangerous sections of the bill that aim to sabotage the work and mission of the Consumer Financial Protection Bureau (CFPB).

Don’t turn back the clock on consumer financial protections

Release Date: 
June 2, 2017

Note: The majority leadership of the U.S. House of Representatives today announced that the chamber will vote next week on H.R. 10, the Financial CHOICE Act. Below is our statement.

For Immediate Release:             

Don’t turn back the clock on consumer financial protections

Statement of Ira Rheingold, Executive Director, National Association of Consumer Advocates (NACA)

NACA Joins Opposition to Bill Provision That Would Abolish Access to CFPB's Complaint Database

Publish Date: 
April 26, 2017
Type: 
legislative

NACA joins consumer, civil rights, fair lending, community and privacy organizations urging opposition to the Financial CHOICE Act, particularly provisions that would obliterate public access to the Consumer Financial Protection Bureau's consumer complaint database. 
 

NACA Joins AFR in Opposing Financial CHOICE Act II

Publish Date: 
April 25, 2017
Type: 
legislative

NACA joined 78 community and public interest organizations to express our opposition to the “Financial CHOICE Act” and to urge House Financial Services Committee members to oppose this bill. This legislation would be better dubbed “Wall Street’s CHOICE Act”, as it would have a devastating effect on the capacity of regulators to protect the public interest and defend consumers and investors from Wall Street wrongdoing and the economy from risks created by too-big-to-fail financial institutions.

NACA Joins 230+ Orgs Urging Rejection of Proposals That Would Eliminate Prepaid Card Rule

Publish Date: 
April 18, 2017
Type: 
legislative

The undersigned 235 consumer, civil rights, labor and small business organizations urged opposition H.J. Resolutions 73 & 62, which would reject the Consumer Financial Protection Bureau’s prepaid card protection rule. The resolution would block basic fee transparency and fee disclosure protections set to go into effect on prepaid cards, including payday lender prepaid cards and low-wage employer payroll cards such as those offered by Georgia-based NetSpend.

NACA, AFR Coalition Support CFPB's Student Loan Servicing Data Collection Initiative 

Publish Date: 
April 24, 2017
Type: 
legislative

NACA joins Americans for Financial Reform (“AFR”) in comments on the Consumer Financial Protection Bureau’s Request for Comment on Student Loan Servicing Market Monitoring. We support the Bureau’s proposed student loan servicing data collection initiative and believe that compiling such metrics and borrower outcomes would benefit market participants, federal and state agencies, policymakers, and borrowers. Obtaining a clearervview of the student loan market overall will help inform all market participants on how best to serve student loan borrowers.

NACA Joins Orgs to Discuss Language Access in Debt Collection Practices

Publish Date: 
March 17, 2017
Type: 
legislative

Organizations submitted a letter in response to the CFPB’s Small Business Regulatory Enforcement Fairness Act (SBREFA) review of proposed regulations under the Fair Debt Collection Practices Act (FDCPA). Specifically, the letter addresses the Bureau’s proposal related to increasing access to the FDCPA’s protections for Limited English Proficient (LEP) consumers. We applaud the Bureau for raising the issue of language access in the context of debt collection and for seeking feedback on this important issue.

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