NACA joined 82 other public interest organizations on a letter urging CFPB Director Kathleen Kraninger to abandon a plan to reorganize the Bureau's Division of Supervision, Enforcement, and Fair Lending. The proposed reorganization would drastically weaken the Bureau's Enforcement arm and leave consumers vulnerable to harm from financial institutions.
NACA joins organizations in opposing H.R. 732, the so-called Stop Settlement Slush Funds Act of 2017 that would prohibit settlement agreements where the United States is a party from including certain “donations” to non-federal actors, primarily non-profits, educational, and community-based organizations. Settlements from federal enforcement actions can include payments to third parties to advance programs that assist with recovery, benefits, and relief for communities harmed by lawbreakers. H.R.
NACA joins other organizations in voicing strong opposition to H.R. 5063, a bill that would prohibit settlement agreements where the United States is a party from including certain payment terms to non-federal actors, also known as third-party payments. Settlement terms that result from a federal enforcement action can sometimes include payments to third parties to advance programs that assist with recovery, benefits, and relief for communities harmed by lawbreakers, to the extent such payments further the objectives of the enforcement action. H.R.
Law360: "Bankers and others in the industry have said the Consumer Financial Protection Bureau’s use of enforcement actions to influence market practices is unprecedented and potentially unfair, but the bureau’s tactic is an aggressive extension of the way other regulators use enforcement actions..."
NACA joins with organizations to oppose the so-called “Sunshine for Regulatory Decrees and Settlements Act of 2015” (H.R. 712), which would undermine citizen enforcement of our laws and impede the resolution of consumer protection, anti-discrimination, environmental protection, and other important cases before our federal courts.