regulatory accountability
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New York Focus: Senate #2 Joins Mounting Opposition to Hochul’s Pick for Top Financial Regulator
New York Focus — Two months ago, Obama-era Treasury Department official Adrienne Harris joined the board of LendingClub, a scandal-plagued online lending company. It was the latest of well over a dozen past and present positions Harris has held at financial technology (“fintech”) firms or related companies, many headquartered in New York.
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(Archive) Stop Trump Administration from Unleashing Predatory Payday Lending in NY
New York has successfully fought to keep predatory payday lending out of our state, as a matter of racial and economic justice. Now, the Trump administration is seeking to gut New York’s longstanding consumer protection laws, and open the door to high-cost lenders that exploit people who are struggling financially.
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ProPublica: Capital One and Other Debt Collectors Are Still Coming for Millions of Americans
ProPublica — Since 2018, Capital One has been a looming presence in Julio Lugo’s life, ever since the company sued him, as it did 29,000 other New Yorkers that year, over an unpaid credit card. But when the coronavirus hit the city this March, it wasn’t on his mind.
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Greetings from Paydayfreelandia!
WASHINGTON, D.C. – Today advocates from states across the country that ban predatory payday lending voiced strong opposition to the Consumer Financial Protection Bureau (CFPB)’s actions to gut federal rules to curb predatory payday lending.
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Penalties on the Dollar
This month, the New York Times reported on the lack of enforcement activity at the Securities and Exchange Commission and Justice Department, showing yet another way corporations engaged in various forms of malfeasance get a free pass from the Trump administration. Same goes for the Consumer Financial Protection Bureau, where enforcement actions have all but…
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Comments to the Office of the Comptroller of the Currency (OCC) on Proposed Community Reinvestment Act Regulatory Framework
The OCC’s unilateral proposal of a CRA “modernization” framework falls utterly short of improving the CRA, and is clearly intended to advance the destructive deregulatory agenda embraced by Comptroller Otting and others in the administration.
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Crain’s New York Business: Debt-Collection Lawsuits Are Roaring Back, Along With An Old Ruse That Victimizes Borrowers
Crain’s New York Business — Esther Roman, a 60-year-old grandmother in Brooklyn, was alarmed when she noticed in January that her $300 weekly paycheck was $27.99 short. She called her employer, a home health care agency, which said her wages were being garnished after someone sued her, claiming she’d failed to pay an old credit-card…
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New York Times: Consumer Bureau Looks to End Public View of Complaints Database
New York Times — Financial companies have worked to diminish the Consumer Financial Protection Bureau’s powers since the day the agency was created. Now, they’re on the brink of having one of their top demands granted: an end to the regulator’s public database of complaints about their products and services.
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Statement re: Selection of New Federal Reserve Bank of NY President
We are dismayed that the New York Fed appears poised to appoint a new president through a reportedly closed process, without meaningful consideration of public input. Given the vital role of the New York Fed president and all that is at stake with this appointment, New Economy Project calls on the Fed to pursue an…