Message to Washington: The Bank Lobbyist Act Must be Stopped!
March 16, 2018 – 3:09 pm | Comments Off on Message to Washington: The Bank Lobbyist Act Must be Stopped!

A bipartisan majority of senators has chosen to commemorate the 10th anniversary of the worst financial crisis since the Great Depression by handing big banks and their lobbyists a package of deregulatory gifts, increasing the risks to financial stability and the likelihood of consumer abuse, including racial discrimination in mortgage lending. This legislation doesn’t serve families or communities, nor is it policy that most Americans support. It puts the interests of financial institutions ahead of the rest of us.

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Letters to Congress: S. 2155 — How An Already Bad Bill Could Become Even Worse
March 5, 2018 – 11:11 am

This memo offers discussion of ten House bills and lists all financial services bills in the House of the 115th Congress that received either 5+ Democratic votes in the Financial Services Committee or one third of Democratic votes on the House floor.

AFR in the News: More problems at Wells Fargo: Feds probing sales practice concerns in new area (Charlotte Observer)
March 1, 2018 – 4:22 pm

“Lisa Donner, executive director of Americans for Financial Reform, used Thursday’s disclosures to argue against Trump administration efforts to roll back financial regulations: ‘Mounting evidence of just how pervasively and systematically Wells Fargo has abused consumers is a powerful argument for more robust regulation and enforcement to hold big banks accountable.’”

Statement: Leahy, Lowey, Schakowsky, Coalition Leaders Call for a Clean Omnibus Package That Excludes Dirty Riders
March 1, 2018 – 4:19 pm

Of particular concern this year is a perennial rider that has prevented scientific research into gun violence at the U.S. Centers for Disease Control and Prevention. This research could help protect toddlers from accidentally firing a weapon, reduce gun-related suicides and help evaluate the effectiveness of public education, background checks and other commonsense measures to reduce needless injuries and deaths.

AFR in the News: Is it time to roll back US bank regulation? (Financial Times)
March 1, 2018 – 10:50 am

“The financial services industry pumped a record $2bn of campaign contributions into the political system in the two years leading up to the 2016 elections. And the flood of cash has continued, with a particular focus on senators whose votes will be decisive. The influence that money buys is creating a massive shift away from the moderate reforms made in and around Dodd-Frank, which were making the system safer and helping consumers and investors keep billions of dollars each year that an already profitable industry would otherwise siphon off.”

Joint Letters: More than 300 national, state and local organizations urge opposition to bringing CFPB funding under the Appropriations process
March 1, 2018 – 9:52 am

AFR and more than 300 organizations urge members of Congress to oppose any poison pill financial reform policy riders, whether to put the CFPB under the normal Appropriations process, otherwise weaken the authority, structure or independence of the CFPB.

Letters to Congress: AFR Urges Opposition to HR 4296—A Bill Tying Regulators Hands in Setting Operational Risk Capital
February 27, 2018 – 11:55 am

AFR sent a letter urging House members to vote “No” on H.R. 4296—a bill that would tie regulators hands in setting operational risk capital.

AFR Poll: Opposition to S. 2155 Bank Deregulation Bill is Wide and Deep
February 27, 2018 – 6:00 am

Opposition to the provisions of S. 2155, on banking supervision, on mortgage lending, and on mobile home financing is strong. And voters believe big banks still have too much influence in Congress.

AFR Polling Memo: Overwhelming Majorities Oppose Dodd-Frank Rollbacks In S. 2155
February 27, 2018 – 5:00 am

Strong majorities support the Dodd-Frank law that Congress passed in the aftermath of the financial crisis and oppose the provisions of the deregulation bill currently under consideration.