Financial Reform News Archives - Page 14 of 122 - Americans for Financial Reform

Amanda Werner of Americans for Financial Reform and Public Citizen sits in costume behind Richard Smith, former chairman and chief executive officer of Equifax Inc., right, before a Senate Banking Committee hearing in Washington, D.C., U.S., on Wednesday, Oct. 4, 2017. Lawmakers grilled Smith on Tuesday after hackers attacked the company's systems and got access to sensitive information for 145.5 million Americans. Photographer

Monopoly Man Crashes Equifax Hearing to Protest Forced Arbitration

Americans for Financial Reform and Public Citizen fought the attack on the Consumer Bureau’s rule to limit forced arbitration and class action bans by delivering mock “Get-Out-of-Jail-Free” cards to the Senate.

Rigged-Rules-768×454 Community-Cheat-768×454
In addition, Amanda Werner appeared at Wednesday morning’s U.S. Senate Banking Committee hearing on Equifax dressed as the billionaire Monopoly Man, and sat behind former CEO of Equifax Richard Smith as he gave testimony to the Senate Banking Committee.

AFR Statement: “Monopoly Man” Highlights Equifax, Wells Fargo Use of Forced Arbitration

Americans for Financial Reform and Public Citizen are defending limits on forced arbitration from congressional attack with a delivery all 100 U.S. Senate offices: a mock “Get-Out-of-Jail-Free” card for the banks inspired by the board game Monopoly. An activist dressed as the billionaire Monopoly Man led the delivery.

Public Testimony: Alexis Goldstein calls on ED Department to Reinstate MOUs with the CFPB

Today at a public hearing at the Department of Education, AFR’s senior policy analyst gave testimony about the need to reinstate the Memorandum of Understanding with the CFPB, ended by Secretary DeVos to widespread criticism.

AFR Statement: Equifax Data Breach Underscores Need to Curb Forced Arbitration

Congress should preserve CFPB’s rule curbing forced arbitration and abandon attempts to lighten regulation of credit bureaus in the wake of massive data breach at Equifax.

Letter to Regulator: AFR reiterates call for language access for homeowners

AFR Response to FHFA LEP RFI Maintaining information on language preference over the entire life of the loan is critical because borrowers need to interact with their lenders and servicers at many different times over the life of a loan. Further, we argued that universally

AFR Statement: Tax Cut Effort a Giveaway to Wall Street

Cutting corporate tax rates, a main purpose of the tax proposals would disproportionately benefit big banks. Goldman Sachs is a dominant voice in the Trump administration thanks to appointees like Treasury Secretary Steve Mnuchin and White House economic adviser Gary Cohn.

AFR Statement: House Vote on CFPB Forced Arbitration Rule a Victory for Big Banks and Predatory Lenders

House vote to roll back CFPB rule limiting forced arbitration aids big banks and predatory lenders while stopping ordinary Americans from getting their day in court.

Letter to Congress: Randal Quarles should not be confirmed as Federal Reserve Vice-Chair for Supervision

“In selecting Mr. Quarles, the Trump Administration has reached back to the economic team of the Bush Treasury, where Mr. Quarles served from 2001 to 2006…. Like the rest of the Bush Administration team, Mr. Quarles showed no evidence of being aware of the historic meltdown of the U.S. and global financial sector that was about to occur, or of the significance of the toxic and fraudulent Wall Street activities that were taking place on his watch.”

AFR Statement: House Lawmakers Voting to Roll Back CFPB Forced Arbitration Rule Defy Public Sentiment

In a tough test for the public’s view of the rule, likely voters concluded the rule helps hold companies accountable, and rejected notions that it will encourages frivolous lawsuits.

AFR/CRL Poll: Bipartisan, National Majorities Support CFPB Rule Curbing Forced Arbitration

Strong, bipartisan majorities nationwide back the Consumer Financial Protection Bureau’s rule curbing forced arbitration and giving consumers their day in court.