Today, private equity and hedge fund managers take advantage of gaps in regulations to make billions of dollars by looting real-world businesses and engaging in abusive practices without any accountability. They also pay taxes at a lower rate than teachers and firefighters. The undersigned organizations support the Stop Wall Street Looting Act (S.2155 / HR 3848 ). This legislation would eliminate tax, securities and bankruptcy law carve-outs that allow these Wall Street titans to make billions at the expense of workers, communities and pensions.
View or download a PDF version of the letter. November 7, 2019 Dear Representative: We are writing on behalf of Americans for Financial Reform (AFR) concerning the reauthorization bill for the Commodity Futures Trading Commission (CFTC) that was passed last week by the House Agriculture
Coalition letter in support of the Consumer Credit Control Act.
AFR Language Access Task Force and partner organizations sent up a letter in support of legislation to restore the URLA language preference question.
On October 9th, AFR joined with 41 organizations representing in a letter to Senator Lamar Alexander expressing concerns regarding his recently introduced bill, the Student Aid Improvement Act. Unfortunately, the bill fails to include any provisions that hold low-quality and sometimes predatory colleges accountable, and better protect students and taxpayers. Any reauthorization of the Higher Education Act (HEA) must include robust consumer protections.
Today, Americans for Financial Reform joined 62 other organizations on a joint letter to Senate appropriators urging them to oppose the overall Labor-HHS-Education spending allocation and the accompanying proposed $1.3 billion rescission from the Pell reserve fund and to instead fully retain all current Pell funds where they belong – in the Pell Grant program.
Letter in support of the Federal Reserve’s real-time payments system and the need for consumer protections in real time payments
On September 9, 2019, 34 organizations sent a letter in support of the Overdraft Protection Act of 2019.
Letter to Congress: AFR Letter in Support of HR 1423, the Forced Arbitration Injustice Repeal Act (FAIR Act)
On September 9, 2019, AFR submitted a letter of support for HR 1643, the Forced Arbitration Injustice Repeal (FAIR) Act to the House Judiciary Committee.
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.