We stand in solidarity with the families of George Floyd, Breonna Taylor, Ahmaud Arbery, and the millions of Black people subject to racial oppression, violence, and murder at the hands of the police and of white supremacists.
AFREF joined a letter to the CFPB highlighting the need for access to their online complaint system in Spanish.
Americans for Financial Reform’s Andrew Park spoke on the “Crypto’s Rapid Rise: The Future of Finance or Cause for Concern” panel at the Virtual Financial Services Conference.
AFR and over 200 other organizations joined a letter urging President Biden to delay restarting student loan payments given the new Omicron variant and ongoing system failures.
AFREF, CRL, CFA, and NCLC sent comments to the Department of Treasury in response to their request for comment concerning the Small Dollar Loan (SDL) Program Application.
We appreciate the work of the CFPB on drawing attention to the harms of overdraft fees, which take billions of dollars a year out of the pockets of mostly low- and moderate-income households to pad the bottom lines of the country’s big and small banks. And among those households, Black and Latinx households were also far more likely to incur overdrafts. We urge the CFPB to use all the tools that Congress gave it to protect consumers from abuses, including drafting tough new regulations.
President Biden’s renomination of Jerome Powell to chair the Federal Reserve Board is a major disappointment to those of us who have fought for tougher regulation of Wall Street as a key tool for protecting financial stability and building a more just and sustainable economy.
Today, the House passed the Build Back Better Act, sending historic investments in white, Black and Brown working people to the Senate.
AFR, joined by 14 other civil rights, social and racial justice, and immigrant organizations, sent a letter to Congress in support of President Biden’s nomination of Professor Saule Omarova to lead the Office of the Comptroller of the Currency.
“The administration settled on a smart person with a background in the banking industry and in government as well as path-breaking scholarship on financial regulation,” said Carter Dougherty, a spokesperson for Americans for Financial Reform. “In less polarized times, somebody appointed by a Democratic president who worked for a previous Republican administration and for a Wall Street firm would be the kind of candidate everyone can agree on. But we’re at a moment where a candidate acceptable to Wall Street is a candidate that does the bidding of Wall Street. And that’s not acceptable to the public interest.”
AFREF joined a letter urging the Biden Administration to immediately begin the process of implementing reforms outlined in the January 20th memo on “Modernizing Regulatory Review.”
