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AFR Statement: Court Sides with Students Over DeVos’s Pro-Corporate Agenda
October 16, 2018 – 2:54 pm | Comments Off on AFR Statement: Court Sides with Students Over DeVos’s Pro-Corporate Agenda

Americans for Financial Reform Education Fund applauds the news that a court has rejected the for-profit college industry’s attempt to stop the 2016 Borrower Defense rule. Today, the United States District Court for the District of Columbia sided with students over Betsy Devos’s attempts to let abusive for profit schools rip them off with impunity.

AFR in the News: Progressive Groups Criticize CFPB Fintech Proposal (Politico)
October 10, 2018 – 12:03 pm | Comments Off on AFR in the News: Progressive Groups Criticize CFPB Fintech Proposal (Politico)

“A coalition of 50 public interest groups today sharply criticized the Consumer Financial Protection Bureau’s proposal to gut important consumer-protection rules, especially for fintech companies, arguing the agency does not have the authority to create potentially unlimited exemptions from the very regulations that the CFPB is obligated to enforce.”

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

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 | Comments Off on Joint Letter: 68 Orgs Call on Dept of ED to Preserve Gainful Employment Rule

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 …

Letter to the Regulators: AFR Submits Comment on Borrower Defense NPRM
August 24, 2018 – 6:21 pm | Comments Off on Letter to the Regulators: AFR Submits Comment on Borrower Defense NPRM

“The Proposed Rule is a brazen attempt to dismantle more than 20 years of borrowers’ rights to a defense to repayment on their loans when schools break the law. This dismantling will do nothing more than unleash a new wave of waste, fraud and abuse. This country teaches people that education is a path to a better life. For far too many years, allowing Title IV funds to flow to institutions engaging in fraud has turned this dream into a nightmare for their students. If the Department continues down this path of dismantling the right to a borrower defense, its legacy will be condemning students to lives full of poverty, while allowing executives of predatory proprietary institutions to become wealthy at their expense.”

They took a broker’s self-serving advice. It cost them about $30,000 in retirement savings.
August 22, 2018 – 11:37 am | Comments Off on They took a broker’s self-serving advice. It cost them about $30,000 in retirement savings.
They took a broker’s self-serving advice.  It cost them about $30,000 in retirement savings.
Joint Letter: Dozens of Civil Rights & Consumer Advocates Urge “NO” Vote on Kraninger for CFPB Director
August 22, 2018 – 10:37 am | Comments Off on Joint Letter: Dozens of Civil Rights & Consumer Advocates Urge “NO” Vote on Kraninger for CFPB Director

“In fulfilling its vital mission to protect consumers from deceptive and unfair financial practices, the Bureau needs a Director who is a champion of consumer protection and an advocate for the rights of ordinary Americans against the predations of big banks and unscrupulous market actors. Ms. Kraninger has shown no track record and given no indication in her confirmation hearing or public statements that she would defend the interests of consumers. For that reason we cannot support her nomination.”

AFR in the News: Trump Asks SEC to Study Quarterly Earnings Requirements for Public Firms (NY Times)
August 20, 2018 – 4:20 pm | Comments Off on AFR in the News: Trump Asks SEC to Study Quarterly Earnings Requirements for Public Firms (NY Times)

“’Quarterly disclosures are very important. A lot can happen in six months, and it’s just not appropriate to reduce disclosures,’ said Marcus Stanley, the policy director for Americans for Financial Reform, a coalition of foundations, unions and public interest groups that pushes for stronger financial regulation. ‘It’s just going to advantage insiders further.’”