Home » Archive by Category

Financial Reform News

AFR Statement: Mulvaney Makes Common Cause With Payday Lenders to Delay Rule
May 31, 2018 – 6:06 pm

Mick Mulvaney has been doing the bidding of payday lenders for years, but putting the CFPB’s weight behind a joint legal motion with their lobbyists is a new low, even for him. Mulvaney is now openly making common cause with payday lenders to gut the CFPB’s common-sense protections for borrowers

AFR Statement: Proposal to Overhaul Volcker Rule Would Unravel Key Response to Financial Crisis
May 30, 2018 – 3:21 pm

This proposal is no minor set of technical tweaks to the Volcker Rule, but an attempt to unravel fundamental elements of the response to the 2008 financial crisis, when banks financed their gambling with taxpayer-insured deposits. If implemented, these proposals could turn the Volcker Rule into a dead letter, a regulation that would not meaningfully restrict trading activities.

Take On Wall Street Poll: Key Findings from Battleground Congressional District Survey on Curbing Wall Street’s Influence
May 29, 2018 – 6:00 am
Take On Wall Street Poll: Key Findings from Battleground Congressional District Survey on Curbing Wall Street’s Influence

A new nationwide survey of likely 2018 voters in key battleground congressional districts reveals overwhelming, broad-based, and intense support for curbing big banks’ influence in Washington, and holding financial companies accountable for discrimination.

Joint Letter: 25 Organizations Write Dept of ED on Evaluating Undue Hardship Claims in Student Loan Bankruptcy
May 24, 2018 – 3:33 pm

AFR was among 25 organizations that signed-on to comments by the National Consumer Law Center on evaluating undue hardship claims in student loan bankruptcy. You can view or download the PDF here.

Joint Letter: Nominate Progressive Candidates to Financial Regulators
May 23, 2018 – 3:40 pm

The need for strong public interest nominees is even greater today. This Administration has been
filling key regulatory positions with people pursuing Wall Street’s agenda at the public’s expense,
and the revolving door is spinning faster than ever. There is an enormous amount at stake at both
the SEC and FDIC as the financial industry and their friends in the Trump administration work to
undo the progress made in Dodd-Frank and to undermine key investor protection standards.

Take On Wall Street Poll: Messaging the Financial Transaction Tax
May 20, 2018 – 1:06 pm

A new nationwide survey of likely 2018 voters in key battleground congressional districts reveals overwhelming, broad-based, and intense support for curbing big banks’ influence in Washington, including solid backing for a Financial Transaction Tax, especially if it’s referred to as a “sales tax”.

AFR Statement: Statement on Passing of Deadline to Roll Back CFPB Payday Rule
May 17, 2018 – 11:12 am

“Congress has done the right thing in allowing the rule to stand. Now the spotlight is on Mick Mulvaney. Will he move ahead on his plans to unravel it, and continue to cater to the payday lenders who gave generously to his campaigns?” said Lisa Donner, executive director at AFR.

AFR Statement: Wall Street Money Hits $719 Million in 2017, Headed Past $2 Billion in this Election Cycle
May 7, 2018 – 6:00 am

Wall Street pumped $719 million into the political process in 2017, a rate that puts it on pace to outstrip the record $2 billion it spent during the 2015-2016 campaign cycle, according to a new report by Americans for Financial Reform.