New Report: Where They Stand On Financial Reform
October 17, 2018 – 12:33 pm | Comments Off on New Report: Where They Stand On Financial Reform

Ten years after the financial crisis, a majority of members of the Congress that wrapped up work in 2018 voted again and again for bills pushed by the bank lobby that endanger financial stability, undermine consumer and investor protections, and enable racial discrimination in lending. The change in control of the House and a heightened awareness of the dangers posed by these actions provide an opportunity to see what changes in the 116th Congress.

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AFR In The News: A Restriction on Payday Lenders Was Just Delayed. Democrats Want to Know Why (TIME)
March 8, 2019 – 9:27 am

“It is well documented that payday and car title loans create a deliberate debt trap that locks the borrowers into long-term debt because they cannot afford to repay the high-cost loan,” Linda Jun of the Americans for Financial Reform advocacy group said in her written testimony. “The 2019 proposal rests on the false premise that the 2017 rule was not supported by the evidence, when in fact the CFPB has simply chosen to listen to the payday lenders defending their own predatory business model rather than the extensive evidence gathered through its own rulemaking, supervision, and enforcement.”

Letters to Regulators: AFR Education Fund letter to the CFPB Regarding their Proposal to Delay the Rule on Small Dollar Lending
March 19, 2019 – 9:45 am

On March 18, 2019, Americans for Financial Reform Education Fund and a broad coalition of organizations submitted a letter to the Consumer Financial Protection Bureau expressing concern with their proposal to delay the rule on Small …

Letters to Regulators: AFR Education Fund letter to the CFTC regarding proposed rule on Swap Execution Facilities and Trade Execution Requirement
March 15, 2019 – 11:53 am

On March 15, 2019, Americans for Financial Reform Education Fund sent a letter to the Commodity Futures Trading Commission expressing several concerns regarding the agency’s “Swap Execution Facilities and Trade Execution Requirement” proposed rules.
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News Release: Bank Workers, Members of Congress, Consumers, And Community Advocates Will hold Rally And Press Conference Addressing Persistent Predatory And Anti-Worker Practices
March 12, 2019 – 8:00 am

Committee for Better Banks
MEDIA ADVISORY FOR: March 12, 2019
CONTACT: Courtney Boland, 732-284-7462,
Ahead of Wells Fargo CEO’s testimony before Congress,

Congressional Testimony: AFR Senior Policy Counsel Linda Jun Testifies before House Financial Services Committee
March 8, 2019 – 5:08 pm

On March 7, 2019, AFR Senior Policy Counsel Linda Jun offered testimony at a hearing entitled: “Putting Consumers First: A Semi-Annual Review of the Consumer Financial Protection Bureau” before the House Financial Services Committee.

News Release: Fed Deregulation Of Bank Capital Distributions Increases Risks To The Public
March 7, 2019 – 4:49 pm

This decision increases risks to the public. It is just one of numerous current and proposed deregulatory changes, to both the stress tests and other prudential requirements, which are currently in process at banking regulators.

News Release: Ahead Of Kraninger Hearing, Advocates Demand To Know Why CFPB Is Attacking Consumer Protections
March 7, 2019 – 9:30 am

Today, CFPB Director Kathy Kraninger is set to testify in front of the House Financial Services Committee, marking her first oversight hearing since being narrowly confirmed last December. Kraninger will now have to answer to a new chair, Rep. Maxine Waters, and a majority that is demanding answers to why the agency has sided with the industry over consumers.

AFR-CEPR Research: Small Donations Show Growing Power of Grassroots Vs. Wall Street
March 6, 2019 – 7:00 am

New members of Congress demonstrated substantially less reliance on money from the financial services industry than incumbents who won re-election in 2018. First-term Democratic members of the House raised, on average, 17 percent of the money for their campaign committees from small donors, compared with 9.4 percent by Democratic incumbents who won re-election.