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Statement: Mark Hays, AFR and Demand Progress Associate Director, Crypto and Fintech, on new FBI Annual Report on Internet Financial Crime Losses to Crypto and other Scams
Yesterday, the FBI’s Internet Crime Complaint Center (IC3) released its annual Internet Crime Report, which analyses complaints received from online financial crime survivors each year to determine the scope and scale of such criminal activity and who is most impacted by it.
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Statement: AFREF Condemns Dangerous Approval of Coinbase’s Bank Charter Application
Granting Coinbase a bank charter runs counter to longstanding federal law and practice and increases the risk of financial crisis.
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Statement: Tom Feltner, Associate Director of Consumer Policy on the Consumer Financial Protection Bureau’s New Proposed Layoff Plan
The Consumer Financial Protection Bureau (CFPB) leadership, under Trump-appointee Russell Vought, has proposed a newlayoff plan as part of its year-long campaign to shutter the agency charged with preventing financial fraud, abuse, and discrimination. The plan would reduce agency staff by over two thirds and sharply curtail its efforts to enforce regulations that prevent financial lawbreakers from taking advantage of everyday people. While this layoff plan is currently blocked by the courts and cannot go into effect immediately, it provides crucial insight into how the CFPB under Acting Director Vought is seeking to rollback financial safeguards even as the financial…