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COMMENTARY: House Chair Waters leads charge to return consumer protection to CFPB

NNPA NEWSWIRE — Although Director Kraninger announced a plan to suspend the payday rule, changes in how the Bureau operated with regard to these lenders began under Mulvaney. While at CFPB, he urged Congress to repeal the rule and joined a lawsuit brought by a payday lender that sought to indefinitely suspend the rule.

Published

8 years ago

March 8, 2019

Oakland Post

By Charlene Crowell, Deputy Director, The Center for Responsible Lending

On March 7, the House Financial Services Committee, chaired by Congresswoman Maxine Waters marked the first time that the new Director of the Consumer Financial Protection Bureau (CFPB) appeared for a hearing in this capacity. Entitled, Putting Consumers First? A Semi-Annual Review of the Consumer Financial Protection Bureau,” the session is the first of two mandated by the Dodd-Frank Wall Street Financial Reform and Consumer Protection Act. Twice a year, CFPB’s Director must report to each chamber of Congress.

But before the hearing, other actions signaled that Director Kathy Kraninger would likely be forced to defend both the Bureau’s actions and inactions that occurred at the hands of Trump political appointees. Under Mick Mulvaney, CFPB’s former Acting Director, a series of actions turned the agency’s focus away from consumers, regulation and enforcement to make its policies and structure more favorable to deregulation and business.

One day before the hearing, Congresswoman Waters and other majority members of the Financial Services Committee held a news conference to announce the reintroduction of the Consumers First Act. Initially filed in 2018 by Waters, the 2019 version has the same intent: to block and reverse the Trump Administration’s anti-consumer agenda. This year, Waters has the support of co-sponsoring lawmakers representing 19 states as diverse as California, Florida, Michigan, North Carolina and Virginia. Another boost – the bill is also supported by 51 consumer, civil rights, and labor advocates.

“The bill reverses the harmful structural changes Mulvaney and his deputies made to damage the agency one-by-one,” said Chairwoman Waters at the news conference. “We will be asking all of the questions that our members deem necessary to find out whether or not she is on the road to restoring much of the damage that was done by Mr. Mulvaney.”

Ohio’s Rep. Joyce Beatty, one of the bill’s co-sponsors, took direct aim at the Bureau’s changed perspective on payday lending adding, “Under Trump’s CFPB director Mulvaney, the CFPB has reduced transparency and accountability, weakened enforcement…and became more interested in helping payday lenders who allegedly misled consumers and charged exorbitantly high interest rates, rather than protecting the American consumers they were sworn to serve.”

Readers may recall that during Black History Month, Director Kraninger announced the Bureau’s intent to suspend the August 2019 effective date of the long-awaited payday rule. After more than five years of public forums, rulemaking, research and thousands of public comments, Director Kraninger still intends to begin the rulemaking process anew.

In response, consumer, clergy, and civil rights advocates received updated information from the Center for Responsible Lending that pinpoints state by state, how current triple-digit interest rates (APRs) continue to harm consumers across the country. Regardless of a state’s population size or average incomes, the cost of borrowing payday loans remains a debt trap. Further, in states where these loans remain legal, lenders continue to squeeze billions of dollars of fees from borrowers whose annual average earnings are $22,500.

Prepared by Charla Rios, a researcher with the Center for Responsible Lending, the updated payday map reveals that in 2019, 31 states charged 200 percent APRs or higher on payday loans. Of these, 18 states have APRs of 400 percent or more, three more – Idaho, Nevada, and Texas charge in excess of 600 percent.

The Lone Star State can rightfully claim one other distinction: its 661 percent APR is the nation’s highest. That claim becomes even more curious when that figure is compared to the actions of more than 40 cities that have adopted some kind of regulation on these predatory loans. In 2011, the City of Dallas led the municipal curbs with an ensuing unsuccessful legal challenge. Fortunately, the Texas Supreme Court upheld the city’s restriction.

Despite these disappointing numbers, there have been recent and notable consumer victories on payday lending. Colorado and South Dakota successfully approved by voter referenda 36 percent payday rate caps. In each of these referenda, voters supported rate caps by 75 percent majorities.

“When no rate caps exist, payday lenders become more predatory as they charge even higher triple-digit interest rates that financially bury people in debt,” said Rios. “The 2019 map shows just how much real reform is needed at the state and federal levels.”

Although Director Kraninger announced a plan to suspend the payday rule, changes in how the Bureau operated with regard to these lenders began under Mulvaney. While at CFPB, he urged Congress to repeal the rule and joined a lawsuit brought by a payday lender that sought to indefinitely suspend the rule. Earlier and as a member of Congress representing South Carolina, Mulvaney opposed the idea of creating the CFPB and counted payday lenders among his top donors.

The 2017 payday rule was promulgated after five years of hearings from a variety of stakeholders and everyday citizens. There was also extensive research, and a public comment period where literally thousands of statements documented this financial exploitation wrought by payday loans.

“Eliminating this protection is plain and simple a huge gift to predatory lenders so they can keep borrowers trapped in unaffordable debt with interest rates exceeding 300 percent,” concluded Diane Standaert, a CRL EVP and Director of State Policy.

Charlene Crowell is the Center for Responsible Lending’s Communications Deputy Director. She can be reached at Charlene.crowell@responsiblelending.org.

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NFL: Week Two Recap | Jalen Hurts did not fold; Caleb Williams exits game with injury

Philadelphia Eagles quarterback Jalen Hurts found Darius Cooper with nine seconds left for the game winning touchdown as his team beat the Tennessee Titans 24-20 in Nashville. Hurts finished the day 26/37 for 264 yards. He threw for two touchdowns and two interceptions. Prior to the final drive, the Eagles ran 25 plays for 45 […]
The post NFL: Week Two Recap | Jalen Hurts did not fold; Caleb Williams exits game with injury appeared first on BlackPressUSA.

Published

3 weeks ago

September 20, 2026

Oakland Post

Prior to the final drive, the Eagles ran 25 plays for 45 yards. During the final drive Hurts went 6-8 with 61 passing yards and the touchdown. Titans defensive tackle — and team captain — Jeffery Simmons said this week that the way to defend Jalen Hurts is to make him “play quarterback.”

Hurts said to Simmons after today’s game: “You started that sh**. I had to finish it.”

Running back Saquon Barkley suffered a stinger in the first half but he ultimately finished the game. He had four carries and nine yards and one catch for eleven yards. He will get an MRI for his injury, but admitted to Cameron Wolfe of the NFL Network he was fine.

Caleb Williams leaves game against Vikings with apparent lower-body injury

Chicago Bears quarterback Caleb Williams was helped off the field with a right leg injury with 7:42 remaining in the fourth quarter. Williams was down, writhing in pain after scrambling to his left. After departing the injury tent, Williams raised his right fist, acknowledging the crowd while expressing his frustration. Testing will commence on Monday to find out more details about his injury.

“We’ll know tomorrow,” Johnson admitted regarding Williams’ injury. “He’s in good spirits. He’s a team player.”

Williams finished the day with 138 passing yards and one interception.

“I’m actually happy it’s nothing with the knee — that was my first inclination,” Johnson said. “But, a hamstring could be pretty damaging as well. So, we’ll see. We’ll see how bad it is tomorrow and we’ll go from there.”

Bryce Young once again dominated the Falcons

Carolina Panthers quarterback Bryce Young is 5-1 against the Atlanta Falcons and is undefeated at Mercedes-Benz Stadium. Today, Young threw for 287 yards and three touchdowns as he led the Panthers to a 34-3 dismembering of the Atlanta Falcons. Georgia Tech alumnus Darren Waller caught two touchdowns and linebacker Devin Lloyd returned one of his two interceptions for a touchdown.

Cooper Rush started his second straight game for the Falcons and it did not go well. The partisan crowd voiced their displeasure after Rush completed 10/17 passes for 86 yards and two interceptions. Jack Strand entered the game for Rush prompting cheers from the Falcons fans. The rookie threw a pick-six on his first career pass attempt. Strand was the first QB to accomplish that feat since Sam Darnold in 2018 and is the first Falcons player to do that since Brett Favre in 1991. Strand finished the day with 59 passing yards and 16 rushing yards.

According to reports, quarterback Michael Penix, Jr. is expected to make his season debut this Thursday at the Green Bay Packers. His return should help the Falcons. They are the first team since the 2008 Rams to not run any plays in the red zone after the first two games to open a season.

The bright spots for the Falcons today were the Spelman College Jaguarettes performing with the Falcons cheerleaders and Florida A&M’s marching band, The Marching 100, also performed during halftime!

Jayden Daniels gets carted off after apparent arm injury

Washington Commanders quarterback Jayden Daniels appeared to injure his left elbow on the final play of the first half in his game against the Dallas Cowboys. During the play, Daniels got stepped on, braced himself for the fall, and his elbow bent the wrong way. Daniels draped a towel over his head as he exited the field on the cart.

He was later ruled out.

Daniels suffered a dislocated elbow to the same arm during week nine of last season against the Washington Commanders, which led to him being shut down for the remainder of the season.

The post NFL: Week Two Recap | Jalen Hurts did not fold; Caleb Williams exits game with injury appeared first on BlackPressUSA.

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The Complete Negotiation Framework — Every Stage, Every Tactic, Every Win

Master the complete vehicle-purchase negotiation framework with Roosevelt Gist and Roosevelt. Learn every stage, tactic, and win!
The post The Complete Negotiation Framework — Every Stage, Every Tactic, Every Win appeared first on BlackPressUSA.

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Oakland Post

Negotiation framework stages, tactics, and winning strategies from AutoNetwork

Roosevelt Gist and Roosevelt deliver the complete vehicle-purchase negotiation framework in Episode 8 of The Color of Our Money Is Green. This episode covers the three foundations of every effective negotiation, the full seven-stage negotiation sequence with exact language for every stage, and five of the most common dealership tactics with the specific response each one requires.
What You Learn in This Episode:
The three foundations that make every negotiation tactic work
The complete seven-stage car-buying negotiation sequence
Exact language for every stage of the dealership conversation
Five common dealership tactics — the turnover, the four-square, the packed payment, spot delivery, and forced add-ons — and how to counter each one
Why signing preliminary paperwork isn’t the same as signing the final contract
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“The Color of Our Money Is Green: A Buyer’s Guide to What Cars Actually Cost” — stan.store/RGist
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AutoNetwork helps serious car shoppers inspect any new vehicle online before walking into a dealership. I’m Roosevelt — I’ve been reviewing cars and shaping digital car buying and credit union auto leasing since before YouTube car reviews existed.
You’ll find detailed walkaround reviews, POV test drives, and buyer-focused breakdowns covering comfort, space, features, and real-world value.

How to use the channel:
Watch the walkaround of the car you’re considering
Visit AutoNetwork.com for the full review
Check CouponsOffersAndDeals.com for current dealer specials
Walk in already knowing what you want — and what it should cost

AutoNetwork.com
CouponsOffersAndDeals.com
Affiliate disclosure: some links earn a small commission at no cost to you and help support the channel. Insta360 is one of those partners.

The post The Complete Negotiation Framework — Every Stage, Every Tactic, Every Win appeared first on BlackPressUSA.

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The post Mazda CX-90 Luxury: Heated Seats & Premium Comfort! #shorts appeared first on BlackPressUSA.

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Mazda CX-90 interior with heated seats offering premium comfort.

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Watch the full video: https://youtu.be/EH5A4eQ4ipY