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Press Releases

May 22, 2018
Meanwhile, FDIC today announced that bank profits this quarter were the highest on record WASHINGTON, D.C. – Just now, the U.S. House of Representatives voted in favor of S. 2155, a partial rollback of the Dodd-Frank financial reform law, which, since it has already passed the Senate, sends the bill to the President for his signature. The White House has issued a Statement of Administrative Policy in support of the bill. Center for Responsible Lending (CRL) Senior Legislative Counsel Yana Miles issued the following statement: “This bill puts out a welcome mat for many of the same...
April 25, 2018
At bankers’ conference, Mick Mulvaney signaled that the CFPB would prevent public access to the Consumer Complaint Database – a critical tool for spotting patterns of financial abuse. WASHINGTON, D.C. – Yesterday, amidst his revealingly nonchalant remarks about engaging in pay-to-play politics as a Congressman, Mick Mulvaney, the Consumer Financial Protection Bureau’s (CFPB) illegitimate Acting Director, told 1,300 bankers and other financial industry officials gathered at a conference that nothing in the law requires for him to maintain public access to the CFPB’s Consumer Complaint...
April 25, 2018
WASHINGTON, D.C. - A New York Times story has reported that Mick Mulvaney, the unlawful Acting Director of the Consumer Financial Protection Bureau (CFPB) and the current Director of Office and Management and Budget (OMB), told more than 1,000 bankers and lending industry officials at the American Bankers Association’s (ABA) Government Relations Summit in Washington, D.C., that when he was a U.S. Congressman he would only meet with lobbyists if they contributed to his campaign. “We had a hierarchy in my office in Congress...If you’re a lobbyist who never gave us money, I didn’t talk to you...
April 20, 2018
WASHINGTON, D.C. – Today, the Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB) issued a $1 billion fine against Wells Fargo, ordered the bank to make restitution to customers harmed by its practices, and required certain management changes. The enforcement action was triggered by the bank’s auto finance practices over recent years that led to an estimated 800,000 consumers pushed into auto insurance they did not need, an estimated 274,000 customers being pushed into delinquency, and wrongful vehicle repossessions estimated to be around 25,000...
April 12, 2018
Under questioning from Senator Elizabeth Warren, Mulvaney unconvincingly defends his attempts to kill the consumer watchdog he now heads CRL report documented the failures of other regulators in the run-up to crisis and argued for creation of the Consumer Financial Protection Bureau WASHINGTON, D.C. – Today in testimony before the U.S. Senate Banking Committee, Mick Mulvaney, the de-facto head of the Consumer Financial Protection Bureau (CFPB), sang his familiar but frightening tune: the CFPB should never have been created and if the agency were to be abolished, other federal financial...
April 10, 2018
As Mulvaney, the “Acting Director” of the Consumer Financial Protection Bureau, testifies before Congress, ConsumersUnderAttack.Org shows how he has favored predatory lenders over American consumers WASHINGTON, D.C. – Today, as Mick Mulvaney, the unlawfully appointed Acting Director of the Consumer Financial Protection Bureau (CFPB), testifies before the House Financial Services Committee, consumer groups announce the launch of a website, www.ConsumersUnderAttack.org, which documents the many ways that his actions are harming consumers. The website was created by the Center for...
April 2, 2018
His proposed changes to the Consumer Financial Protection Bureau would politicize the agency and "make consumer protection dependent on Congress and the White House standing up to the financial industry." WASHINGTON, D.C. – Today, Mick Mulvaney, the unlawfully appointed Acting Director of the Consumer Financial Protection Bureau, issued a report with recommendations that would dramatically diminish the agency’s independence. As reported by Politico, Mulvaney would like “funding the Bureau through congressional appropriations; requiring legislative approval of ‘major’ bureau rules;...
March 14, 2018
WASHINGTON, D.C. – Today, the U.S. Senate voted to pass S. 2155, a banking deregulation bill that if enacted would constitute the largest-ever roll back of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The Dodd-Frank law was enacted in response to the biggest financial crisis since the Great Depression. The bill now goes to the U.S. House of Representatives for consideration. Center for Responsible Lending Senior Legislative Counsel Yana Miles issued the following statement: The U.S. Senate just passed a bill to make it harder to track racial discrimination in...
March 6, 2018
WASHINGTON, D.C. – Today, the U.S. Senate voted to advance S. 2155, a banking deregulation bill that if enacted would constitute the largest-ever roll back of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The Dodd-Frank law was enacted in the wake of the biggest financial crisis since the Great Depression. Read a short summary of S. 2155. Center for Responsible Lending Senior Legislative Counsel Yana Miles issued the following statement: The financial crisis led to a Great Recession that cost millions of Americans their jobs, homes, and savings. This bill...
February 6, 2018
Agency’s Independence Is Necessary to Its Mission, Groups Tell Court Considering Appeal in English v. Trump and Mulvaney WASHINGTON, D.C. – The U.S. Consumer Financial Protection Bureau’s (CFPB) independence from external political influence is crucial to the agency’s mission of protecting consumers, ten groups told a court today in an amicus brief filed in the U.S. Court of Appeals for the District of Columbia Circuit. The groups are the Center for Responsible Lending (CRL), Americans for Financial Reform, Consumer Action, National Association of Consumer Advocates, National Consumer...

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