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AFR in the News

AFR in the News: Congress rolls back post-crisis financial rules as banks post record profits (Washington Post)
May 23, 2018 – 1:36 pm

“‘When lawmakers vote for banking deregulation even though banks are raking in record profits, it exposes what is really at work,’ said Lisa Donner, executive director of Americans for Financial Reform. “The bank lobby has flooded the political system with money, and is getting a return on its investment. The result is legislation that makes the financial system less safe and less fair, and puts consumers at greater risk of abuse.’”

AFR in the news: Student debt hurts the whole economy. So why is Trump making the problem worse? (NBC THINK)
May 10, 2018 – 4:35 pm

“Mulvaney dismantling the Office for Students is a move that deliberately makes life harder for America’s 44 million student loan borrowers. At a time when student borrowers need allies in government more than ever, Mick Mulvaney and the Trump Administration have left them out in the cold.”

AFR in the News: House Votes to Dismantle Bias Rule in Auto Lending (NY Times)
May 9, 2018 – 10:24 am

“‘“Companies will put millions of people into more expensive car loans simply because of the color of their skin,, said Rion Dennis, an advocate of financial overhaul at Americans for Financial Reform. ‘By using the Congressional Review Act to wipe out straightforward regulatory guidance, the congressional majority has also opened the door to challenging longstanding efforts to protect workers, consumers, civil rights, the environment and the economy.’”

AFR in the News: SEC Seeks to Require Brokers to Put Their Clients First (NY Times)
April 27, 2018 – 9:51 am

“’The standard of conduct the agency has articulated appears ambiguous at best,’ Marcus Stanley, policy director at Americans for Financial Reform, said in a statement. ‘It doesn’t simply ban the sales quotas and other compensation practices that lead brokers to put their clients into high-fee, lower-yielding investments.’”

AFR in the News: Senate Votes to Ease Restrictions on Auto Lending Discrimination (NY Times)
April 27, 2018 – 9:47 am

“‘“By voting to roll back the CFPB’s work, senators have emboldened banks and finance companies to engage in racial discrimination by charging millions of people of color more for a car loan than is justified,’ said Rion Dennis of Americans for Financial Reform, an advocacy group. ‘Lawmakers have also opened the door to challenging longstanding agency actions that are crucial to protecting workers, consumers, civil rights, the environment and the economy.’”

AFR in the News: Consumer watchdog becomes alphabet soup of controversy (Washington Post)
April 24, 2018 – 12:45 pm

Swapping “Bureau” from back to front is not a simple word shuffle, said Lisa Donner, executive director for the advocacy group Americans for Financial Reform. “Doing that signals you want to take the emphasis away from serving consumers — which unfortunately is what Mulvaney’s been doing in many ways — and put it on ‘this is a bureaucracy’,'” Donner said.

AFR in the News: ​Mulvaney’s Pay-to-Play an “undermining of democracy” (St. Louis Post-Dispatch)
April 24, 2018 – 12:20 pm

Americans for Financial Reform reported that the financial sector spent $2 billion on political activity in the 2016 election cycle, including $1.1 billion in campaign donations and the rest for lobbying. That’s $3.7 million for every member of Congress.

AFR in the News: During tenure working for banks, Tim Pawlenty thrilled Wall Street, angered consumer advocates (Minneapolis Star-Tribune)
April 15, 2018 – 10:15 am

“Across party and regional lines, most people think Wall Street has too much influence in Washington. And they think that because it does,” said Lisa Donner, executive director of Americans for Financial Reform, a consortium of labor unions, consumer groups, liberal think tanks and organizations like AARP.