AFR Statement: No Budget Riders Weakening Wall Street Reform or CFPB
Congress should abandon budget rider proposal that would eliminate independent funding for the CFPB and other poison pills.
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TOWS Statement: House Tax Bill a Gift to Wall Street
The Take on Wall Street campaign denounces the passage of a tax bill in the House of Representatives that would give Wall Street and the 1% over $1 trillion in tax breaks while leaving many middle-income Americans paying higher taxes, increasing the public deficit, and leading to deep cuts in important public services.
AFR Statement: Senate Dodd-Frank Changes Would Benefit Banks Not Look Out for Consumers
Congress ought to be passing robust new consumer protections, not doing favors for banks. Annual industry earnings by banks set a new record in 2016, and community banks saw even faster growth than big banks. Over 95 percent of community banks turned a profit last year.
AFR Statement: Equifax Earnings Highlight Broken Model of Credit Reporting
The hack may even have been a boon to the bottom line of credit reporting companies, which charge consumers to freeze their credit report or monitor their credit, even though consumers are seeking these protections due to this massive breach.
AFR Statement: Monopoly Man Highlights Need for Congress to Act on Consumer Rights
But the question is, what will Congress do after a hearing on data breaches? Will they act to restore our right to control information about our own lives, and protect our privacy, or will they let Equifax and other data brokers turn the problems they caused into an excuse for undermining existing state laws with a sham weaker federal standard that replaces them? Will they restrict access to the courts?
TOWS Statement: Groups Slam Tax Bills For Failure to Close Carried Interest Loophole
The Take on Wall Street campaign denounced the proposed tax bills for effectively preserving the carried interest loophole for Wall Street money managers, a loophole Trump promised to close during the campaign trail.
TOWS Statement: Tax Bill Would Give Wall Street Massive New Tax Breaks
The Take on Wall Street campaign denounces the just-unveiled tax bill as a giant giveaway to an industry whose reckless behavior led to a searing recession from which many Americans have not yet recovered.
AFR Statement: Stories of Wells Fargo Victims Drive Home Injustice of Forced Arbitration
Americans for Financial Reform is stepping up its campaign in support of the consumer’s right to a day in court. A significant five-figure digital campaign targeting Maine, Alaska, Louisiana and Arizona will tell the stories of Hudson and Byrd, who were scammed by Wells Fargo – and left with no means of pursuing justice.
Monopoly Man Crashes Equifax Hearing to Protest Forced Arbitration
Americans for Financial Reform and Public Citizen fought the attack on the Consumer Bureau’s rule to limit forced arbitration and class action bans by delivering mock “Get-Out-of-Jail-Free” cards to the Senate.
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In addition, Amanda Werner appeared at Wednesday morning’s U.S. Senate Banking Committee hearing on Equifax dressed as the billionaire Monopoly Man, and sat behind former CEO of Equifax Richard Smith as he gave testimony to the Senate Banking Committee.
AFR Statement: “Monopoly Man” Highlights Equifax, Wells Fargo Use of Forced Arbitration
Americans for Financial Reform and Public Citizen are defending limits on forced arbitration from congressional attack with a delivery all 100 U.S. Senate offices: a mock “Get-Out-of-Jail-Free” card for the banks inspired by the board game Monopoly. An activist dressed as the billionaire Monopoly Man led the delivery.