Public Citizen and Americans for Financial Reform (AFR) released detailed policy recommendations today to the U.S. Department of the Treasury for its forthcoming report on climate-related financial risk.
News Release: Labor Department: Retirement Plans and Pensions Right To Consider Sustainability, Jobs, Equity, Workers
Americans for Financial Reform Education Fund (AFREF) applauds the Labor Department for issuing this proposal to better allow and encourage retirement plans and pensions to consider sustainability factors like workers’ rights, racial justice, corporate governance, and climate change when investing.
Letters to Regulators: Letter to CFPB Expressing Concerns About the Treatment of Earned Wage Access Products
AFREF joined a letter to CFPB Director Rohit Chopra expressing concerns about the treatment of earned wage access products.
AFR sent a letter to the House Financial Services Committee expressing support for several draft bills that would provide great investor protection ahead of the October 5 oversight hearing of the Securities and Exchange Commission.
AFR applauds the confirmation of Rohit Chopra as Director of the CFPB.
Americans for Financial Reform Education Fund and partners Public Citizen, Natural Resources Defense Council, and Center for American Progress released a white paper outlining the key elements that federal bank regulators—including the Federal Reserve Board, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration—can and should incorporate into public supervisory guidance for banks on assessing and addressing the risks faced by banks from climate change.
Letters to Congress: Letter Calling for Homeownership Funding in the Build Back Better Budget Reconciliation Bill
AFR joined a letter to Congress urging for the highest possible amount of homeownership funding in the Build Back Better Budget Reconciliation Bill.
Letters to Regulators: Letter to Secretary Yellen on Repealing Treasury’s 2019 Guidance on SIFI Designation
AFREF joined a letter to Treasury Secretary Janet Yellen calling on her to rescind the 2019 guidance under the Trump Administration that made it unduly difficult to designate non-banks as Systemically Important Financial Institutions (SIFIs).
Americans for Financial Reform joined 38 organizations urging Secretary Yellen to produce a bold Treasury climate finance report. Climate change poses an existential threat to the economic security of households and communities across the nation and to the financial system. As the Chair of the FSOC, it is up to Secretary Yellen to lead the writing of a Treasury report that can serve as a comprehensive roadmap that recognizes the urgency and severity of the climate crisis, includes specific policies beyond assessment and disclosure, and encourages each of the independent agencies to use all available tools to mitigate climate risk and its drivers.
AFR joined the Leadership Conference on Civil and Human Rights and many other organizations “to urge [President Biden] to immediately pause the removal of Haitians to Haiti and uphold basic due process and human rights for Haitians seeking asylum at the U.S. border. We also call upon your administration to investigate the treatment of migrants and conditions near the Del Rio, Texas port of entry.”