US (AMERICANS FOR FINANCIAL REFORM) : Nearly 100 groups just stood up for the CFPB. Now we need you.

 

Tuesday, we stood outside the U.S. Court of Appeals for the D.C. Circuit  as judges heard arguments in a case that could determine the future of  the Consumer Financial Protection Bureau. Consumer advocates and  CFPB workers rallied together as the Trump administration continues to push  an aggressive plan to restructure, defund, and slash up to 90% of the  agency’s workforce. Acting Director Russell Vought has taken steps to halt much of the CFPB’s  work and pursue widespread layoffs and cutbacks on critical services, moves  that have triggered ongoing litigation by the National Treasury Employees  Union challenging those actions. Americans for Financial Reform was proud to support CFPB workers.  We also coordinated a coalition letter signed by nearly 100 national,  state, and local organizations demanding that the Senate stand up for  a strong, robust, and independent CFPB. That letter makes clear that the future of the CFPB is on the line and with  it the only federal agency dedicated entirely to protecting people from  financial exploitation. The CFPB has returned tens of billions of dollars to people who were  cheated by big banks, payday lenders, student loan servicers,  mortgage companies, and credit reporting giants. It has taken action  on junk fees, racial discrimination in lending, predatory payday loans, and  medical debt abuses. Weakening the CFPB hands power straight back to  the corporations that caused so much harm in the first place. We are mobilizing legal experts, policy advocates, coalition  partners, and grassroots supporters to defend this agency in the  courts and in Congress. But this fight takes resources. Can you  make a contribution today to help us defend the CFPB and protect  its independence? Donate Now Nearly 100 organizations have publicly called on the Senate to defend the  CFPB’s funding and structure. This is a broad coalition of consumer  advocates, civil rights groups, and public interest leaders who understand  that without the CFPB, predatory lenders and abusive financial actors will  operate unchecked. As I said at the rally, if the CFPB is stripped down to a shell, enforcement actions  stall. Investigations slow. Rules go unenforced. Families facing foreclosure,  veterans targeted by scams, students buried in debt, and workers hit with illegal  junk fees are left to fend for themselves. That is exactly what Wall Street has  wanted for years. AFR has defended the CFPB since its creation. We fought for its  strongest rules. We mobilized to protect it from previous attacks. And  we are not backing down now. But we cannot do it without  sustained support from people who believe in a fair financial system. Contribute $5 to help Americans for Financial Reform defend a  strong, robust, and independent CFPB now. Let’s keep organizing, keep speaking out, and keep defending the  CFPB until it has the full strength and independence consumers deserve. - Tom Tom Feltner (he/him) Associate Director of Consumer Policy Americans for Financial Reform Support the campaign Paid for by Americans for Financial Reform