Statement: AFR Mourns Passing of Civil Rights Legend John Lewis

AFR joins the Civil Rights Movement and the nation in mourning the passing of John Lewis. We celebrate his leadership, his outsized contributions to the struggle for racial and economic justice – until the very end of his life – and his steadfastness in demanding and defending a more robust democracy. His work as a legislator with a strong moral compass advanced all these strands of work and highlighted the relationship between them all.

Education Secretary Betsy Devos at the White House on July 9, 2020.Kevin Lamarque / Reuters

Oped: Betsy Devos’ refusal to honor student loan forgiveness shows her disrespect for the law

“Even in a government full of people without the integrity, will or courage to do the right thing, most of the agencies stand down — or at least pretend to — when ordered by the courts. But not the Department of Education under Secretary Betsy DeVos, who seems to have been only further animated by her losses in court over her efforts to deny the rightful debt cancellations owed to people who attended predatory, for-profit colleges, borrowers who are disproportionately women and people of color, and often now working in front-line jobs.”

a student with books - Photo by Element5 Digital on Unsplash

Joint Statement: 103 Organizations Agree – Congress Needs to Cancel Student Debt

Today, 103 civil rights, consumer and advocacy organizations and think tanks sent a joint letter to House and Senate leadership, urging them to include student debt cancellation in the next economic stimulus package.

Led by American for Financial Reform, Demos, Center for Responsible Lending and Freedom to Prosper, the letter stresses the ways that if left unaddressed, the student debt trap will deepen our current recession, slow our economic recovery, exacerbate inequality, and deepen a crisis already facing black and brown borrowers and families.

News Release: Improve Fed Facility to Help States and Municipalities Handle Coronavirus Crisis

States and localities provide critical public services, and more than 1.5 million state and local jobs have been lost since February. Without credit support like that which should be provided by this Facility, deeper job losses and service cuts can be expected as states grapple with unprecedented fiscal challenges in the face of the coronavirus crisis. Supporting states and localities is critical for economic recovery and for assisting communities impacted by the dual public health and economic crisis we face.

Protestor demands financial reform.

Webinar: A Decade after Dodd-Frank: What Next?

SAVE THE DATES — July 17, July 20, Aug. 4, and more Webinar Series A Decade after Dodd-Frank: What Next? Building a Just Financial System Ten years ago this month, Congress passed, and President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer

JOINT STATEMENT: How to get help with your mortgage during COVID-19

The following organizations have made this important information available in Spanish, Korean, Chinese, Vietnamese, Bangla and English: AFR Language Access Task Force, Americans for Financial Reform Education Fund, Center for Responsible Lending, Consumer Action, Empire Justice Center, National CAPACD, National Consumer Law Center, National Fair Housing Alliance, and UnidosUS.

NEWS RELEASE: Rollback of Payday Protections Enables Predator Profiteering Amid Health Crisis

The director of the Consumer Financial Protection Bureau, Kathleen Kraninger, today announced the agency will strip out the core of a rule written and finalized under previous leadership that would shield consumers from debt trap payday and car-title loans. The decision will leave millions of people vulnerable to grave financial abuses at a time of economic crisis, and will harm people of color who are suffering higher rates of illness and of unemployment, and whom this industry targeted even before the pandemic.