December 12, 2017

A recent amicus brief by a coalition of nonprofit consumer organizations highlights the strong public interest in the continued independence of the Consumer Financial Protection Bureau (CFPB). NYLAG’s first concern remains protecting the financial rights of consumers, in particular the low-income clients we assist. As an independent federal agency, the CFPB protects consumers from abusive financial services practices, in particular in the areas of debt collection, credit reporting and mortgages. Since its creation in 2011, the CFPB has returned $12 billion to 29 million Americans harmed by financial institutions. Pending legislation already threatens to restructure the CFPB in ways that could diminish its ability to do its job. It is critically important that the next director has the independence and authority to remain a force for financial transparency and the rights of American consumers. Read the amicus brief here: