S 2155: A Gift to Wall Street!
March 16, 2018 – 3:09 pm | Comments Off on S 2155: A Gift to Wall Street!

Bipartisan majorities in the House and the Senate chose to commemorate the 10th anniversary of the worst financial crisis since the Great Depression by handing the bank lobby a package of deregulatory gifts, increasing the risks to financial stability and the likelihood of consumer abuse, including racial discrimination in lending. This legislation, signed into law on May 24, won’t serve families or communities, nor is it policy that most people support. But Wall Street and its friends in Congress had a tougher time than they ever expected because Americans who know better refused to let the bill pass without a fight.

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AFR in the News: The Gang of Three draw the wrong conclusions from the 2008 bailout—and may set us up for a repeat (The American Prospect)
August 10, 2018 – 12:03 pm

Geithner, Bernanke, and Paulson were the most powerful regulators of the financial system during the disastrous crisis of a decade ago. Yet they devote only a few words to their own failures to predict or prevent the last crisis and the lessons that might hold for today. Just a brief paragraph is devoted to the state of post-crisis regulations.

AFR Statement: Consumer Groups Criticize SEC Investor-Protection Proposal During Agency Roundtable in Baltimore
September 20, 2018 – 6:15 pm

The SEC’s proposed “Regulation Best Interest” is anything but, a plan for creating a veneer of investor protection that would fail to chase bad practices out of the industry that cost savers $40 billion per year. Many savers fall victim to brokers who steer them into investments that pay lucrative fees but don’t generate the best possible return for investors.

Letters to Regulators: AFR Education Fund submitted a letter to the SEC regarding proposed amendments to the Whistleblower Program rules
September 19, 2018 – 10:55 am

Americans for Financial Reform Education Fund sent a letter to the SEC regarding proposed amendments to the Commission’s Whistleblower Program rules. While we generally support a few of the proposed amendments, we are concerned that …

AFR Report: Fall 2018 Congressional Voting Record on Where They Stand on Financial Reform
September 14, 2018 – 6:00 am

Ten years after the financial crisis, a majority of members of Congress have voted again and again for bills pushed by the bank lobby that are dangerous for our financial stability, undermine consumer and investor protections, and enable racial discrimination in lending. The report, entitled “Where They Stand on Financial Reform,” lays out how each lawmaker voted.

AFR Report: Where They Stand on Financial Reform
September 14, 2018 – 5:59 am

This comprehensive guide details how members of the 115th Congress voted on bills and nominations related to financial reform.

Joint Letter: 62 Orgs Urge ED to Reject Changes that Weaken Accountability
September 13, 2018 – 4:47 pm

Americans for Financial Reform Education Fund joined with 61 other organizations to tell the Department of Education that we are closely monitoring their ongoing efforts to recklessly deregulate higher education.
As 62 organizations and advocates for …

Joint Letter: 68 Orgs Call on Dept of ED to Preserve Gainful Employment Rule
September 13, 2018 – 4:39 pm

Americans for Financial Reform Education Fund joined with 67 other organizations working on behalf of students, consumers, vets, servicemembers, civil rights, & college access to urder Education Secretary Betsy Devos not to eliminate the gainful employment …

U.S. PIRG Report: Protecting Consumers One Year After Equifax
September 13, 2018 – 4:36 pm

One year ago, Equifax announced the worst data breach in U.S. history, a breach that compromised the personal information of over 150 million consumers. Even though it has been a year since the breach, Equifax …