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Financial Reform News

AFR Report: Government Sachs And The Trump Administration
October 10, 2017 – 9:04 am

Goldman Sachs-linked appointees in the Trump administration are pursuing a broad agenda of deregulation and privatization that will directly benefit the New York investment bank.

AFR Statement: “Monopoly Man” Highlights Equifax, Wells Fargo Use of Forced Arbitration
October 4, 2017 – 1:08 pm
AFR Statement: “Monopoly Man” Highlights Equifax, Wells Fargo Use of Forced Arbitration

Americans for Financial Reform and Public Citizen are defending limits on forced arbitration from congressional attack with a delivery all 100 U.S. Senate offices: a mock “Get-Out-of-Jail-Free” card for the banks inspired by the board game Monopoly. An activist dressed as the billionaire Monopoly Man led the delivery.

Public Testimony: Alexis Goldstein calls on ED Department to Reinstate MOUs with the CFPB
October 4, 2017 – 11:26 am
Public Testimony: Alexis Goldstein calls on ED Department to Reinstate MOUs with the CFPB

Today at a public hearing at the Department of Education, AFR’s senior policy analyst gave testimony about the need to reinstate the Memorandum of Understanding with the CFPB, ended by Secretary DeVos to widespread criticism.

AFR Statement: Delay of Fiduciary A Ripoff of Retirement Savers, Gift to Wall Street’s Financial Advisers
September 15, 2017 – 10:39 am

Retirement savers need the fiduciary rule, fully enforced, to help ensure they can enjoy a dignified retirement. See the story of Steve Wingate to learn what happens without this common-sense protection.

SOR Statement: Don’t Delay the Fiduciary Rule, Protect American Retirement Savers
September 15, 2017 – 10:31 am

Members of the Save Our Retirement coalition speak out forcefully against the Department of Labor’s proposed delay of the fiduciary rule, a common-sense protection that would ensure savers get the best advice possible.

AFR Statement: Banks Require Forced Arbitration But Won’t Defend It Publicly
September 12, 2017 – 12:27 pm

Bankers response to Sen. Elizabeth Warren about use of forced arbitration and cite tired, old arguments. But they won’t say publicly they want the CFPB’s rule reversed.

AFR Statement: Equifax Data Breach Underscores Need to Curb Forced Arbitration
September 8, 2017 – 5:05 pm

Congress should preserve CFPB’s rule curbing forced arbitration and abandon attempts to lighten regulation of credit bureaus in the wake of massive data breach at Equifax.

AFR Statement: Tax Cut Effort a Giveaway to Wall Street
August 30, 2017 – 8:36 pm

Cutting corporate tax rates, a main purpose of the tax proposals would disproportionately benefit big banks. Goldman Sachs is a dominant voice in the Trump administration thanks to appointees like Treasury Secretary Steve Mnuchin and White House economic adviser Gary Cohn.