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Statements and Press Releases

New Report Shows Need for Federal Oversight of Secret Arbitration: All Firms in Flagrant Violation of California’s Disclosure Law
June 28, 2017 – 3:27 pm
New Report Shows Need for Federal Oversight of Secret Arbitration: All Firms in Flagrant Violation of California’s Disclosure Law

 
FOR IMMEDIATE RELEASE
June 28, 2017

CONTACTS:
Amanda Werner, Americans for Financial Reform & Public Citizen, awerner@ourfinancialsecurity.org, (202) 973-8004
Jan Kruse, National Consumer Law Center, jkruse@nclc.org, (617) 542-8010 ext. 361
 
New Report Shows Need for Federal Oversight of Secret …

AFR Report: Treasury Does Bidding of Big Banks in Dodd-Frank Report
June 21, 2017 – 6:45 am

In its rush to eviscerate the Dodd-Frank reforms, Treasury Department adopted over three-quarters of the ideas put forth by The Clearing House, an association of the biggest U.S. and international banks

Letter to Congress: Oppose H.R. 10 – The Wall Street’s CHOICE Act Would Devastate Financial Regulation
June 7, 2017 – 10:49 am

“H.R. 10, the ‘Financial CHOICE Act’… would be better dubbed ‘Wall Street’s CHOICE Act,’ as it would have a devastating effect on the ability of regulators to protect consumers and investors from Wall Street exploitation and the economy from financial risks created by too-big-to-fail megabanks. It would expose consumers, investors, and the public to greatly heightened risk of abuse in their regular dealings with the financial system, and our economy as a whole to a far greater risk of instability and crisis.”

Joint Statement: Over 222,000 Call on Congress to Reject the CHOICE Act
June 6, 2017 – 2:17 pm
Joint Statement: Over 222,000 Call on Congress to Reject the CHOICE Act

A coalition of organizations delivered a petition with over 222,000 signatures calling on Congress to oppose the Financial CHOICE Act.

AFR Statement: Budget Takes Aim at CFPB and Student Loan Holders
May 23, 2017 – 10:52 am

“Without exception, the proposals we’ve seen to de-fund or restructure the Consumer Financial Protection Bureau are about making it less effective at doing its job,” said Brian Marshall, policy counsel at AFR. “The agency has won relief worth $12 billion for 29 million Americans since it started work. All these proposed changes to the CFPB would do is make it easier for Wall Street and assorted predatory lenders to rip people off.”

Joint Statement: Another Step Forward for Retirement Savers
May 23, 2017 – 10:24 am

From a statement by the Save our Retirement Coalition: “Retirement savers need an enforceable fiduciary standard and a Department of Labor that is prepared to hold firms accountable for compliance. Until the full complement of rule requirements takes effect, their hard earned savings will continue to be at risk as a result of conflicted advice from financial professionals who put their own financial interests ahead of their customers’ best interests. Yesterday’s decision was an important step forward, but there is still a long road ahead.”

AFR Letter: Oppose the Regulatory Accountability Act
May 17, 2017 – 9:17 am

Throwing up elaborate procedural hurdles isn’t a recipe for to good government. It’s a deliberate plan for increasing the control that Wall Street’s lobbyists have over government decision-making at the expense of the public interest.

Joint Statement: Prepaid Card Protections Escape Congressional Veto
May 12, 2017 – 2:15 pm

“‘This rule will give consumers, including people who rely on prepaid debit cards instead of a bank account, the basic protections they need to manage their finances more safely and securely,’ said Lisa Donner, executive director at Americans for Financial Reform. ‘When people learned it was under threat, they made the case that this rule is important and workable, and it looks like enough lawmakers paid attention.'”