Americans for Financial Reform is a nonpartisan, nonprofit coalition working to lay the foundation for a strong, stable, and ethical financial system.
SEC Building

Letter to the Regulators: Letter to the SEC on Finalizing the ESG Funds Disclosures Rule to Protect Investors from Greenwashing and Other Misleading Claims

AFREF and 18 additional signatories wrote to the SEC in support of bringing much-needed disclosures to the vast market of ESG-designated products and services. The letter urges the SEC to finalize the rule titled “Enhanced Disclosures by Certain Investment Advisers and Investment Companies about Environmental, Social, and Governance Investment Practices” as soon as possible and recommends changes to the way the proposed rule addresses disclosure of metrics by ESG-Focused Funds. These changes would improve the rule by generating disclosures that better reflect ESG-Focused Funds’ varied strategies and priority metrics while alleviating concerns expressed by some commenters.

Event: Ranking Member Waters, Professor Anat Admati and Professor Jeremy Kress debunked myths about bank capital at Admati’s book event

Americans for Financial Reform, together with Better Markets, welcomed Anat Admati, Professor of Finance and Economics at the Stanford School of Business, together with esteemed panelist, Assistant Professor of Business Law at Michigan Ross, Jeremy Kress, to discuss the recent update to Anat’s co-authored book, The Bankers’ New Clothes: What’s Wrong with Banking and What to Do about It, which debunks myths about bank capital.

Letters to the Regulators: Letter Urging End to Overpayments to Insurance Companies and Financial Institutions

AFR joins a sign-on letter urging the Biden Administration to end billions of dollars in overpayments to insurance companies and financial institutions. These wasteful overpayments are causing significant challenges for Medicare’s financial sustainability. The fixes that CMS can and should undertake will help level the playing field between traditional Medicare and Medicare Advantage, promote health equity and bring down Part B premiums for everyone with Medicare.

Event: Private Equity’s Attacks on Basic Human Needs

Wall Street private equity firms have experienced exponential growth, accumulating substantial influence across critical sectors of the economy. From corporate landlords displacing tenants to healthcare facilities suffering under private equity ownership, the impact is far-reaching.


News Release: 142 Organizations Support CFPB Rule to Curb Abusive Overdraft Fees

WASHINGTON, D.C. – Today, 142 consumer, civil rights, military, legal services, and community groups submitted comments in strong support of the Consumer Financial Protection Bureau’s (CFPB) proposed rule governing the overdraft lending practices of the largest financial institutions. [The National Consumer Law Center also submitted a longer, more detailed set of comments, which will be available here.]

Blog: Sam Bankman Fried’s Sentencing is the Beginning, not the End of the Push for Crypto Accountability.

Today, Sam Bankman Fried – known as SBF, the founder of crypto firm FTX; the once exalted face of the crypto boom, and now the poster child for crypto scandals – was sentenced to serve 25 years in prison, after being found guilty of seven counts of fraud in a jury trial last year. The presiding judge found SBF, in addition to his other charges, had committed perjury and witness tampering during his trial as well.

News Release: Groups Demand Open, Transparent Process for Capital One-Discover Merger Review

WASHINGTON, D.C. – A coalition of 30 community, consumer, civil rights, and public interest groups has called on federal bank and antitrust regulators to follow several critical procedural safeguards that will help ensure proper review of the proposed takeover of Discover by Capital One. The coalition includes Americans for Financial Reform, the National Community Reinvestment Coalition, the American Economic Liberties Project and Public Citizen.

a photo of skyscrapers

Analysis: Antitrust and Banking Agencies Must Block Capital One-Discover Merger

The $35 billion takeover bid would vault Capital One into 6th place among the biggest U.S. banks and create the largest U.S. credit card lender, ahead of current leader JPMorgan Chase. This new company could raise prices for cardholders, especially lower-income consumers and Black and Latine households and give Capital One the power to jack up debit card fees on merchants. In short, it would reinforce the megabank monopoly power that is already a serious problem in the American economy. The Biden administration must stand up for consumers, communities, and small businesses and block the Capital One-Discover merger.