Consumer Advocates Respond to New Report on Credit Cards and the Impact of the CARD Act
Consumer Action’s press release Consumers Union’s press release National Consumer Law Center’s press release
Category Archives: Financial Reform News
Really Small Wall Street Tax Could Make a Really Big Difference
Congress will soon be back from recess – and back to gnashing its teeth over the budget and the various important things that, too many in that branch of government now contend, our country can no longer afford to do. They could expand their sense of the possible by considering a source of revenue they have so far largely ignored – a small tax on sales of stocks, bonds, and complex financial instruments.
Praise for Ellison Bill to End Mandatory Arbitration in Investor Disputes With Brokers and Advisors
Under current practice, investors seeking brokerage and other financial advisory services must agree in advance to submit any complaints to arbitration by an industry-run regulatory body. The Investor Choice Act would restore the right of investors to take such disputes to a court of law, if they prefer.
AFR Applauds Introduction of Reed-Blumenthal Bill to “Stop Subsidizing Multimillion Dollar Corporate Bonuses”
By eliminating an exemption for “performance-based” pay, this bill would cap the tax deductibility of executive compensation at $1 million, as a 1993 law only pretended to do.
AFR in the News: Taking the Measure of Dodd-Frank Three Years Later
“The progress of the CFPB has been the most impressive” result, said AFR Policy Director Marcus Stanley. “In 2009, very few people would have predicted that a few years later there would be a fully operational and independent consumer financial protection bureau.”
AFR and 36 Co-Signers Oppose Senate Bill to Undermine European Financial Transaction Tax
Senator Pat Roberts (R-Kan.) has introduced legislation directing U.S. companies to refuse to comply with the proposed tax. Rather than trying to obstruct the EU proposal, “U.S. elected officials should be considering the potential benefits that such taxes could deliver for this country.”
39 Organizations Call for Stronger Rules on Military Lending Act
Joint letter asks the Department of Defense to protect service members from high-cost installment loans and other forms of credit not yet covered by a 36 percent interest-and-fee cap and other protections.
Nearly Five Years After the Financial Meltdown, Support for Wall Street Reform Remains Strong
A new national survey shows overwhelming support across lines of age, race, geography, and political party for tougher regulation of Wall Street and financial companies.
Protecting Retirement Savings: The Case for Modernizing Advice
In today’s workplaces, retirement-fund advice typically comes from broker-dealers who are free to put their own financial interests ahead of the interests of employees. Because they often do, many workers make investment decisions that cost them tens or even hundreds of thousands of dollars over
AFR in the News: Looking Back at the CFPB’s Track Record
With the confirmation battle ended, the Columbus Dispatch paused to reflect on the Consumer Financial Protection Bureau’s accomplishments. “It’s off to a really good start,” AFR’s Lisa Donner told the Dispatch’s Jessica Wehrman. “But there’s a whole lot of work left to be done.”