Category Archives: Education Fund

Fact Sheet: AFREF Coalition Fact Sheet on CFPB 1033 Open Banking Rule

The Consumer Financial Protection Bureau’s (CFPB) Personal Financial Data Rights Rule (Rule 1033) helps create a more consumer-friendly and competitive financial services marketplace by allowing people to easily and securely move their personal financial data between financial institutions. Prior to this rule, many banks and financial institutions limited how consumers could use their financial data, which made it difficult for people to comparison shop, manage money, use new technology, or switch accounts and service providers. With Rule 1033, people who wish to switch financial service providers can share their banking history and data from previous transactions in a secure manner, helping them more easily move between service providers.

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Fact Sheet: AFREF Coalition Fact Sheet on CFPB Medical Debt Rule

The Consumer Financial Protection Bureau’s (CFPB) final rule to remove medical bills from most credit reports will prohibit credit reporting companies like Equifax, TransUnion, and Experian from sharing medical debt information with lenders as well as barring lenders from considering these medical debts in underwriting decisions.

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Fact Sheet: AFREF Coalition Fact Sheet on CFPB Protecting People and Families

The Consumer Financial Protection Bureau (CFPB), created after the devastating 2008 financial crisis, exemplifies the government working for the people by vigorously protecting consumers and their families, including by reducing junk fees and holding corporations and financial institutions accountable when they engage in unfair and illegal conduct. Since its creation, the CFPB has stood up for the little guy against Wall Street, predatory lenders, and other financial services companies, by cracking down on junk fees, reducing the burdens of medical debt, fighting lending discrimination, and promoting banking competition, all while returning billions of dollars back into the pockets of everyday people.

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Letters to Regulators: Letter to the Department of Treasury’s Federal Insurance Office Urging the Swift Release of Climate Change and Insurance Affordability Data

AFREF and 36 partners led a letter urging the Department of Treasury’s Federal Insurance Office (FIO) to swiftly release the homeowner insurance data that the National Association of Insurance Commissioners collected from over 330 insurers representing over 80% of the property and casualty market while also urging FIO to swiftly release a robust report analyzing the data.

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Letter to the Regulators: Letter to the SEC Supporting PCAOB’s Standardized Firm and Engagement Metrics

Americans for Financial Reform Education Fund, joined by 9 signatories, submitted a letter to the Securities and Exchange Commission strongly endorsing the Public Company Accounting Oversight Board’s (PCAOB) proposed standards. The standards would require firms to disclose standardized and comparable metrics that facilitate cross-firm comparisons and assessments of audit quality, providing critical data for investors to make informed decisions. The letter highlights that requiring consistent and comparative metrics will reduce opportunistic disclosures, simplify audit committee oversight, and foster a data-driven approach to regulation and audit quality.

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Letters to Congress: Letter Urging Senate Majority to Confirm Pending Nominees

Americans for Financial Reform and Public Citizen along with 50 organizations that advocate for racial, social, economic, and climate justice, wrote to urge Senate Majority Leader Schumer to confirm pending nominees for financial regulators and independent agencies like the National Labor Relations Board.

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Letters to Congress: AFR Leads 25-Organization Letter Opposing Broad-Brush Congressional Attack on Federal Support for Homeownership, Small Businesses, and Family Farms

AFR and consumer, community, small business, and farm advocates sent a letter to the House Oversight and Accountability urging them to oppose legislation that aims to privatize federal loan guarantee programs. This measure would be a big win for Wall Street but reduce access, raise costs, and exacerbate racial gaps in homeownership rates, small business formation, and family farm viability.

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