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Financial Reform News

In The News: Is The U.S. Economy Strong Enough To Withstand Another Slowdown Or Recession? (NPR)
August 23, 2019 – 10:46 am

I spoke with Carter Dougherty of the group Americans for Financial Reform … I asked him whether this kind of tinkering would necessarily lead to another financial crisis. “No. And I would not argue that. Can you argue persuasively that [actions by Trump-appointed regulators] will make the next recession more painful than it should be? That is absolutely the case.”

In the News: Turning Point for Student Loans (Inside Higher Ed)
August 16, 2019 – 4:20 pm

This new data “confirms what advocates in the student borrower advocacy community have been saying for a long time: that student debt has hit crisis levels in the U.S.,” said Alexis Goldstein, senior policy analyst at Americans for Financial Reform.

News Release: CFPB Leaves Consumers Unprotected by Failing to Implement Payday Lending Rule Provisions
August 12, 2019 – 5:28 pm

Consumer watchdog groups urged the U.S. Consumer Financial Protection Bureau (CFPB) in a letter sent today to take action immediately to implement the payment provisions in its payday lending rule, whose compliance date is August 19, 2019.

News Release: Stop Wall Street Looting Act Would Curb Worst Private Equity Abuses
July 18, 2019 – 9:10 am

“Private equity and hedge funds now wield enormous influence over the American economy, often with terrible consequences for workers and communities,” said Lisa Donner, executive director of Americans for Financial Reform. “We need effective rules of the road to stop predatory practices by these Wall Street giants.”

Advisory: Briefing for Media on Stop Wall Street Looting Act at 3pm ET
July 18, 2019 – 9:10 am

Briefing on Stop Wall Street Looting Act of 2019 will be at 3pm ET. To join call RSVP to Kyra Sadovi, kyra@ourfinancialsecurity.org and dial (800) 230-1096 and ask for “Private Equity Legislation” conference call.

News Release: Public Interest Groups Support Bill to Address Private Equity Abuses
July 18, 2019 – 9:10 am

Over 15 major public interest groups have signed on to support the Stop Wall Street Looting Act of 2019, which was introduced today in the House and Senate.

Legislation: Summary and Analysis of Stop Wall Street Looting Act
July 18, 2019 – 9:10 am

The Stop Wall Street Looting Act would curb the worst abuses of Wall Street private equity executives by making them liable for damage they cause, protecting the interests of workers, preventing looting of target companies, and improving transparency for investors.

Letters to Congress: Statement to House Financial Services Committee on Facebook Libra Proposal
July 17, 2019 – 9:13 am

The AFR Education Fund sent a statement for the record to the House Financial Services Committee concerning Facebook’s proposal for the Libra digital token and payment system. The statement describes ways in which Facebook is attempting to create an unregulated financial product of potentially global scale and the dangers this would pose to the users of the token and the broader financial system.