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AFR Statement: Congressional Move Is a Sellout to Payday Loansharks
December 1, 2017 – 1:18 pm | Comments Off on AFR Statement: Congressional Move Is a Sellout to Payday Loansharks

“Attempts to roll back this protection for consumers are nothing more than a sellout to the predatory payday lenders who want to continue to enrich themselves by trapping people in a painful cycle of debt. Congress should reject this and other attempts by payday lenders to undo a common sense rule based on the common sense principle of ability to repay.”

Joint Statement: Consumer Advocates Blast DOL Attempt to Kill Fiduciary Rule
November 27, 2017 – 5:49 pm | Comments Off on Joint Statement: Consumer Advocates Blast DOL Attempt to Kill Fiduciary Rule

“The Trump Administration’s actions prove that it is far less interested in protecting investors from the harmful effects of conflicts of interest than it is in catering to Wall Street interests… By stripping out the rule’s private enforcement mechanism, and by stating that the Department won’t enforce the rule, the DOL has rendered the rule toothless.”

Letter to Regulators: AFR Urges Federal Reserve To Increase Risk Controls on Cleared Derivatives
November 23, 2017 – 5:57 pm | Comments Off on Letter to Regulators: AFR Urges Federal Reserve To Increase Risk Controls on Cleared Derivatives

“On behalf of Americans for Financial Reform, we are writing to express our support for proposed changes…by the Federal Reserve Board of Governors… to the FR Y-15 systemic risk reporting form… regarding the treatment of cleared over-the-counter derivatives transactions.”

AFR Statement: Treasury Report on Systemic Risk Designation of Large Non-Banks
November 20, 2017 – 4:25 pm | Comments Off on AFR Statement: Treasury Report on Systemic Risk Designation of Large Non-Banks

FOR IMMEDIATE RELEASE
Nov. 20, 2017
CONTACT
Carter Dougherty
carter@ourfinancialsecurity.org
(202) 251-6700
Treasury Memorandum Weakens Systemic Risk Supervision
On Friday the Treasury Department released a memorandum on the process used by the Financial Stability Oversight Council (FSOC) to designate large …

AFR in the News: Wall Street Wants to Kill the Agency Protecting Americans From Financial Scam (Intercept)
November 20, 2017 – 10:50 am | Comments Off on AFR in the News: Wall Street Wants to Kill the Agency Protecting Americans From Financial Scam (Intercept)

“[Director Cordray’s] departure will be ‘a huge loss,’ said Lisa Donner, executive director of Americans for Financial Reform. If Trump appoints a new director who is indifferent, or even hostile, to consumer issues, she said, ‘It will be incredibly costly to the American public.’”

Joint Statement: Groups Demand to Know How Much Money Credit Bureaus Will Make Off Data Breach
November 17, 2017 – 12:10 pm | Comments Off on Joint Statement: Groups Demand to Know How Much Money Credit Bureaus Will Make Off Data Breach

American for Financial Reform, the Consumer Federation of America, the National Consumer Law Center, U.S. PIRG, and other nonprofit advocacy groups wrote a letter to the CEOs of all three companies asking for detailed information on how the data breach might be leading to higher revenues in credit freeze fees and credit monitoring services.

AFR Letter: How Much Will Credit Bureaus Make Off Equifax Data Breach?
November 17, 2017 – 12:01 pm | Comments Off on AFR Letter: How Much Will Credit Bureaus Make Off Equifax Data Breach?

American consumers deserve to know how much money the big three credit bureaus — Experian, Equifax and TransUnion — will make due to the devastating data breach at Equifax.

Joint Event: Inside Information, Dirty Money, and the Quest to Bring Down the Most Wanted Man on Wall Street
November 17, 2017 – 10:58 am | Comments Off on Joint Event: Inside Information, Dirty Money, and the Quest to Bring Down the Most Wanted Man on Wall Street

At a Nov. 16 forum co-hosted by AFR and the AFL-CIO, Sheelah Kolhatkar, author of the New York Times bestseller “Black Edge,” discusses the rise of a powerful new class of billionaire financiers who have used their vast reserves of concentrated wealth to rewrite the rules of capitalism and public policy.