Happy Birthday CFPB: Protecting American Consumers Against Wall Street

This month marks the fifth anniversary of the law that created the only financial regulatory agency with a mandate to put the interests of consumers first. Since it opened its doors in July 2011, the Consumer Financial Protection Bureau has begun to bring badly needed rules of fair play to mortgages, debit cards and other areas of the financial marketplace, while delivering some $10.1 billion in refunds and restitution to more than 14 million consumers cheated by financial companies big and small.

Now the Bureau has taken the first steps toward issuing rules that could end abuses in payday, car-title, and other high-cost, debt-trap consumer loans – loans that have had devastating effects on countless Wisconsin families. Unfortunately for the citizens of Idaho, however, Senator Crapo appears to be lining up with the payday lenders and the big banks in their ceaseless efforts to block regulation and undermine the Consumer Bureau’s effectiveness.

Senator Crapo has voted for bills and amendments designed to curtail the CFPB’s funding and authority and roll back financial reform. In addition, he ranks among the top thirty House recipients of payday-industry campaign contributions, with $37,500 coming in during the last election cycle.

A new survey confirms once again that most voters – including majorities of Democrats, Independents and Republicans – believe there should be more, not less, government oversight of financial companies. Nearly nine out of ten voters say that small-dollar lenders should have to make sure a loan is affordable in light of a customer’s income and expenses. Continue reading

Immigrant Families, ICAN Remain Confident that At the End of the Day, Anti-Immigrant Legal Maneuvers Won’t Work

Thousands of Idaho Immigrants Continue to Wait, Prepare for Implementation as Long Legal Battle of Immigration Action Unfolds 

Boise, ID– Today, the U.S. Court of Appeals for the Fifth Circuit denied the US Department of Justice’s request for an emergency stay in the anti-immigrant lawsuit, Texas v. United States of America. Texas Federal Judge Andrew Hanen issued an injunction in mid-February temporarily halting the implementation of the Deferred Action for Parents of Americans and Lawful Permanent Residents (DAPA) and expanded Deferred Action for Childhood Arrivals (DACA) programs. Thousands of Idaho immigrants, up to as many as five million immigrants across the country, are forced to wait, continuing to live in fear of deportation and being torn from their families.

“Governor Butch Otter and State Attorney Lawrence Wasden strategically filed this case in order to delay relief for hardworking immigrants in Idaho” said Ruby Mendez, Senior Policy Fellow of the Idaho Community Action Network “We are confident that we will win this lawsuit and, finally, millions of hardworking immigrants will be able to live, work, and stay in the only country they call home.”                                                                                                                                                                                  

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