Letter to Congress: Protect Shareholder Rights — Oppose HR 4015
AFR sent a letter opposing a bill that would eliminate the independent voice of proxy advisory firms and unfairly disadvantage shareholders as compared to firm management.
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AFR Release: New Report Documents Deepening Links Between Payday Lending and Private Equity
Private equity moguls have invested heavily in the payday and installment lending. The development puts private equity firms in the position to profit from efforts by payday lenders to roll back an important new rule by the Consumer Financial Protection Bureau.
AFR Report: Payday Lending and the Private Equity Business
New report offers details on over 20 cases of private equity investment in payday lending, and how the new owners or investors seek greater rewards from this predatory business.
AFR Statement: Bipartisan Senate Bill Rewards Banks While Leaving out Consumers
A bipartisan majority of lawmakers on the Senate Banking Committee last week rejected a series of public interest amendments in order to advance a bill full of gifts to banks.
AFR Statement: Trump Tweets Tough on Wall Street As Record Shows Opposite
The notion that this administration is or will be tough on Wall Street doesn’t pass the laugh test, and that fact is evident in deeds, not tweets. Trump has put Goldman Sachs executives in the most senior positions in the government, and pushed for a giant tax cut for Wall Street.
AFR Statement: Public Interest Groups File Amicus Brief In Support of Leandra English as CFPB Director
Americans for Financial Reform joined a group of public interest advocates in support of Leandra English’s lawsuit to be recognized as the sole lawful Acting Director of the Consumer Financial Protection Bureau.
Joint Letter: AFR and 16 Organizations Oppose HR 2570 — A Bill Promoting Predatory Mortgage Lending
H.R. 2570 would open the door to predatory mortgage lending by making it easier for lenders to steer homeowners into high-cost, abusive deals on certain mortgages, especially on home equity lines of credit and construction loans
Letter to Congress: AFR Opposes HR 477 — the misleadingly labeled “Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017″
Disguised as a regulatory relief for small businesses, this legislation would exempt from registration requirements merger and acquisition brokers of transactions involving quite large privately held companies, while opening a deregulatory window of opportunity for private equity firms to exploit.
AFR/TOWS Statement: Senate Republican Tax Bill a Gift to Wall Street
On Friday, Senate Republicans passed a bill with some $1.5 trillion in tax cuts, overwhelmingly weighted to the wealthiest Americans. The bill lavishes tax cuts on Wall Street banks, on executives who can manipulate their legal status to obtain a lower tax rate, and on operations in foreign tax havens. In contrast, ordinary Americans earning wages and salaries receive very limited benefits, and in many cases will see their taxes increased.
AFR Statement: English is Rightful Acting Director While Courts Rule on CFPB Leadership
In the meantime, the CFPB still has work to do holding Wall Street to account on behalf of American consumers, and Ms. English and the CFPB staff can continue its successful run. Now, the president should nominate someone with a track record of fighting for consumers who will enjoy bipartisan support in the Senate.