All posts by AFR

News Release: OCC’s Retreat on Climate Risk at Odds with Economic Reality

Today, the Office of the Comptroller of the Currency (OCC) announced its withdrawal from participation in the interagency Principles for Climate-Related Financial Risk Management for Large Financial Institutions. The climate principles covered large banks with over $100 billion in assets and were released jointly in 2023 by all three federal bank regulators: the OCC, the Federal Reserve Board, and the Federal Deposit Insurance Corporation (FDIC).

CFPB 2

News Release: Organizations Urge House of Representative to Oppose Musk-Fueled Rollback of CFPB Digital Payment Oversight

FOR IMMEDIATE RELEASE: April 1, 2025 CONTACT: Carter Dougherty, carter@ourfinancialsecurity.org Nearly 190 Organizations Urge House of Representative to Oppose Musk-Fueled Rollback of CFPB Digital Payment Oversight WASHINGTON, D.C. — Today, 187 community, technology, labor, civil rights, privacy, consumer, small business, and other organizations delivered a

News Release: Housing Agency’s Disregard for Growing Climate Risk Will Only Deepen the Housing Affordability Crisis

Tuesday afternoon, Federal Housing Finance Agency (FHFA) Director Bill Pulte sent out a flurry of orders via tweets containing photographs of documents, including rescission of its Advisory Bulletin on Climate-Related Risk Management (Climate Risk AB)  and waiver of Equitable Housing Finance Plan (EHFP) requirements for Fannie Mae and Freddie Mac (the Enterprises).

News Release: Senate Majority Betrays Consumers By Siding with Big Banks on Overdraft Fees

The Senate majority advanced the agenda of the nation’s biggest banks by voting for a Congressional Review Act resolution to roll back the Consumer Financial Protection Bureau’s (CFPB) cap on sky-high overdraft fees. The CFPB safeguard would lower these charges at big banks from $35 to $5, saving families and service members across the nation $5 billion each year, or roughly $225 per household impacted by overdraft fees. 

News Release: Consumer and Investor Protection Organizations Denounce the Weakening of Shareholder  Rights by Delaware Legislature

The passage of Delaware Senate Bill 21 – the Billionaires’ Bill – endangers the retirement  security of millions of families across the country. A coalition of consumer and investor groups  including Public Citizen, Americans for Financial Reform, and the Consumer Federation of  America opposed the legislation as did the largest retirement funds in the United States. 

sign for the CFPB outside a building

Statement: AFR Submits Statement for the Record for House Hearing Attacking the CFPB

Congress created the Consumer Financial Protection Bureau to prevent another financial crisis, and for the past 14 years it has diligently served the public, held financial firms accountable, cracked down on junk fees, and protected people from financial rip-offs. The vehemence of the Wall Street, Big Tech, and predatory financial industry’s attacks on the CFPB are a testament to its effectiveness in successfully standing up for people.