team, Author at Americans for Financial Reform

Brookings Institution Webinar: The Future of Bank Overdraft Fees

On Thursday, July 15, Linda Jun, senior counsel at Americans for Financial Reform Education Fund, spoke on a panel about the harms of bank overdraft fees and alternatives to the current system. She was joined by other consumer advocates and representatives from banks and financial technology firms that are creating alternatives to bank overdraft fees. The panel focused on new tools and technologies designed to help consumers avoid overdraft fees while maintaining flexible banking options.

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Letters to Regulators: Letter to FHFA on Duty to Serve

AFREF and MHAction submitted joint comments on Fannie Mae and Freddie Mac’s duty to serve plans and urged the Enterprises to better protect manufactured housing residents from corporate abuses and increase financing opportunities for mission driven owners.

News Release: SEC Must Step Up Enforcement of Rules on Private Funds

The Securities and Exchange Commission should use the full scope of its authority to increase transparency and reduce hidden risks to investors and markets from the private equity industry, according to a letter from 15 public interest groups.

Letters to the Regulators: AFREF Letter to the SEC On Addressing Private Equity’s Abuses

AFREF alongside 14 other signers submitted a letter to the Securities and Exchange Commission (SEC) raising several abuses from the private equity industry and ways the Commission can directly address them

Letters to Regulators: Letter to the Federal Reserve on Access to Fed Master Accounts and Financial Services

AFREF submitted a comment to the Federal Reserve on its “Proposed Guidelines for Evaluating Account and Service Requests” urging the Federal Reserve to limit access to its payments systems to well-regulated and well-supervised depository institutions to safeguard rules that protect consumers, ensure the stability of the payments system, and require community reinvestment.

Letters to Regulators: Letter to OMB in Response to Racial Equity RFI

AFREF joined a letter to the Office of Management and Budget in response to their RFI asking for input on how to identify effective methods for assessing whether agency policies, programs, services, processes, and operations equitably serve all eligible individuals and communities, particularly those that are currently and historically underserved.

Letters to Regulators: Joint Letter on Use of AI

AFREF joined partners in sending a letter with detailed recommendations in response to the joint RFI on financial institutions’ use of AI and ML.

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Letters to Regulators: AFREF Letter to the Department of Education on Upcoming Negotiated Rulemaking

AFREF sent a letter to the Department of Education calling for several topics to protect borrowers in the upcoming negotiated rulemaking, and also urging the Department to administratively cancel student debt.

Letters to Regulators: Letter to the Department of Education on Topics for Upcoming Negotiated Rulemaking

AFREF joined a letter urging the Department of Education to include several topics that would protect borrowers in the upcoming negotiated rulemaking.

News Release: Fed Stress Tests Unleash Bank Capital Distributions at Expense of Financial Stability

The Federal Reserve has announced the results of its 2021 bank stress tests. Since then, these results have led a steady parade of the largest banks in the country to announce dramatic increases in dividends. The stress tests will also enable greater share buybacks and other capital distributions by banks. This will enrich senior executives and large shareholders, while putting financial stability at risk.