The proposed Capital One takeover of Discover would create a mammoth bank that would undermine competition, raise prices, and harm consumers. The merger would create the biggest credit card lender — holding nearly one-third of credit card loans to consumers with non-prime credit scores — and put Capital One in a position to use its market power to raise prices on virtually captive consumers.
The crypto industry paints a picture of crypto as a tool for financial inclusion and economic prosperity. However, when one looks at the actual numbers, the industry’s record tells quite a different story – one of fraud, crime, scams, and economic hardship. Straightforward facts and figures outline the scope and scale of financial loss and harm that the crypto industry has inflicted on consumers and investors in the U.S. and around the world.
Bankers, lobbyists, elected officials uttered some choice words on 2018’s bank deregulation legislation and the impact of mid-sized banks on financial stability that belong in any good collection of famous last words.
AFREF released a fact sheet summarizing the SEC’s two sets of rule proposals that will
provide investors and regulators with greater transparency into several aspects of the $18 trillion private fund industry.
Stock buybacks exacerbate the racial wealth gap, worsen economic inequality, and divert resources from the real economy which harms workers. Taxing buybacks would raise revenue and discourage companies from putting highly-paid executives ahead of the broader economy.
A section-by-section of Sen. Warren’s plan to address the predatory elements of the private equity business model that harm workers, investors, and communities.
Private equity has had a disastrous impact on the retail industry, driving dozens of firms into bankruptcy, shutting down tens of thousands of stores, and costing hundreds of thousands of jobs nationwide.
Private equity firms have bought up thousands of nursing homes across the country, lowering the quality of care and harming residents.
By creating accountability for the Wall Street tycoons who lead private equity takeovers and reversing the policies that enable wealth extraction, this set of policies can protect workers, families, and communities.
Private equity firms have driven much of the rise in surprise billing that threatens the financial stability of vulnerable patients as well as families’ health and peace of mind.