On Friday evening, a day after Russell Vought was confirmed as Director of the Office of Management and Budget, President Trump named him acting director of the Consumer Financial Protection Bureau.
AFSA congratulates Director Vought on his confirmation and his additional responsibilities as acting director at the Bureau. As AFSA noted in its letter to Treasury Secretary Scott Bessent, a well-functioning consumer credit marketplace with clear and appropriate rules of the road are crucial to both the American economy and to consumer protection. We look forward to working with Acting Director Vought on policies that both strengthen the consumer credit industry and ensure a brighter future for American workers and their families.
On Friday evening, a day after Russell Vought was confirmed as Director of the Office of Management and Budget, President Trump named him acting director of the Consumer Financial Protection Bureau.
AFSA congratulates Director Vought on… Read the rest
Yesterday, AFSA responded to the Community Development Financial Institutions Fund’s questions regarding the small dollar loan program (SDL) application. The SDL application prohibits companies that provide “high-rate loans” from… Read the rest
As part of AFSA work to bring our requests to the new acting director of the CFPB, Secretary Bessent, we signed a joint trades letter urge Secretary Bessent to withdraw the proposed rule expanding the scope of the Fair Credit Reporting Act (FCRA)… Read the rest
AFSA and other financial trade associations sent a letter yesterday to the CFPB’s new Acting Director Scott Bessett, asking him to immediately rescind its rule on the Registry of Nonbank Covered Persons Subject to Certain Agency and Court… Read the rest
This weekend, former Director Chopra announced that his tenure as head of the CFPB had concluded. Director Chopra continued to work up until his resignation became public. Late Friday, the CFPB indicated that actions that could generously… Read the rest
Today, Senators Bernie Sanders (I-VT) and Josh Hawley (R-MO) are introducing legislation to cap credit card interest rates at 10 percent. The legislation would be in effect for five years.
AFSA was quoted in the NYT opposing the bill: The… Read the rest
Today, President Trump announced that on January 31 he appointed Secretary of the Treasury Scott Bessent as acting director of the CFPB. As one of his first actions as acting director, Secretary Bessent ordered that the CFPB will:
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In the past two months the CFPB has worked overtime – literally – to reinforce its reputation as an agency of over-reach and unaccountability. Now, with no director and a new administration that has made it clear there will be a … Read the rest
AFSA congratulates Rep. French Hill(R-AR), on his election to the Chairmanship of the House Financial Services Committee. AFSA has worked with Representative Hill on a number of issues crucial to American consumers and the consumer credit… Read the rest
