For too long, the rules of Wall Street have been written by the bankers themselves. This year, that has to change.
Americans for Financial Reform is working to reform the nation's lending industry and financial system. We're working to protect Americans' neighborhoods, homes and pocketbooks by creating an economy that works for everyone.
Washington, DC – Americans for Financial Reform, a coalition of over 200 groups, released the following statement today on Chairman Dodd’s financial reform legislation:
Heather Booth, Executive Director, Americans for Financial Reform: “We applaud Chairman Dodd …
Heads they win, tails we lose! Wall Street gambled with our savings, collected billions, and then left taxpayers to pay the price when the economy went south. We need new rules to keep Wall Street in line. Read more.
To restore the economy and create jobs, banks must offer good, safe loans to consumers, homeowners and businesses. We need to end the foreclosure crisis and stop people losing their homes, and we need community reinvestment that directs responsible lending to our communities and businesses. Read more.
No more foxes guarding the chicken coop: banks should not be able to pick their own regulators. And “too big to fail” should be too big to exist. To prevent the next crisis, we need accountable, transparent and democratic regulators to prevent banks from getting too big or acting irresponsibly. Read more.
We need this agency to protect us from abusive financial products, just as we have clear rules to prevent the sale of poisonous food, drugs with deadly side effects, and toasters that are likely to explode. Read more.
The CFPA must be independent – not subject to veto or approval by any prudential regulator or any other person or board. Read why.
A student at the University of Indiana published this op-ed in an Indiana paper supporting the Consumer Financial Protection Agency.
High-cost, unregulated private student loans are just one example of why we need a strong Consumer …
The California Reinvestment Coalition released this report (PDF) about subprime lending to communities of color in California. Here are their key findings:
Lenders saturated California neighborhoods with high-cost and predatory loans:
In 2006, in each city, lenders …
AFR Director Heather Booth has a new column on the Huffinton Post exposing Frank Luntz’s lies about financial reform. Here’s an excerpt from her post:
Seen this ad from the “Committee for Truth in Politics”? If …
The Main Street Brigade is a rapid response team, nationwide, that can be activated to protect our communities against just this kind of devastation.
Right now, we are ALL vulnerable to the big banks, CEOs and …