Congressional Testimony: America for Sale? An Examination of the Practices of Private Funds
We urge Congress to stand up for working people and for communities, patients and consumers, and enact the Stop Wall Street Looting Act.
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News Release: FDIC/OCC Proposal Would Encourage Rent-a-Bank High-Cost Predatory Lending
Advocates reacted with outrage to a new proposal from two federal bank regulators that could make it easier for payday and other high-cost lenders to use banks as a fig leaf so that online lenders can offer predatory loans at interest rates that are prohibited under state law.
News Release: New Poll Shows Very Broad Support for Action to Curb Private Equity Abuses
The survey found that voters across party lines both disapprove of common approaches of private equity firms in taking over and running existing businesses. They also approve of measures to increase accountability, close loopholes, and protect workers, investors and the viability of target firms.
AFR Polling Memo: New Survey Shows Bipartisan Skepticism of Private Equity Tactics, Support for Reform
Voters support continued reform of Wall Street, and that conviction extends to the private equity industry, according to a new poll by Lake Research Partners and Chesapeake Beach Consulting. Majorities of Democrats, independents, and Republicans, oppose the predatory tactics of private equity industry, and support legislative proposals aimed at correcting its abuses.
Letter to Congress: Letter in Support of the Small Business Lending Fairness Act
AFR and partners sent a letter in support of the Small Business Lending Fairness Act, which protects small businesses from predatory lenders by ensuring their ability to defend their businesses in the justice system by codifying the ban on confessions of judgments in consumer and small business loans.
Letter to Congress: Letter in Support of Debt Collection Bills
AFR and partners sent a letter in support of the package of debt collection bills to strengthen consumer protections for debt collection through broadening the FDCPA’s protections by expanding and clarifying the definition of debt and placing needed limits on collection efforts.
News Release: AFR Applauds Introduction of Veterans and Consumers Fair Credit Act
Americans for Financial Reform today applauded the introduction ofthe Veterans and Consumers Fair Credit Act of 2019, legislation that would extend the 36 percent APR interest rate cap on payday and car-title lenders in the Military Lending Act (MLA) to cover all Americans.
Letter to Regulators: AFR Ed Fund and Demand Progress Ed Fund urge the Federal Reserve Board to enact strong consumer protections into their FedNow system
The development of a real-time, ubiquitous payment system is an especially complex, expensive undertaking. Because of the scale of the endeavor, and its potential to impact the American public as a whole, we firmly believe the Board is the appropriate entity to establish a universal 21st century payments system.
Joint Letter: Letter to Federal Reserve Emphasizing Need for Strong Consumer Protections in Real Time Payment Systems
Coalition letter urging the Federal Reserve to build in strong consumer protections into the design of its new real-time payment system
News Release: Advocates Urge FDIC, OCC, Federal Reserve to Stop Banks from Helping Payday Lenders Evade State Interest Rate Limits
A coalition of 61 consumer, civil rights, and community groups today sent letters to three federal bank regulators urging them not to allow their banks to help payday lenders evade state interest rate limits.