AFREF urges the Department of Labor to withdraw their proposed rule entitled “Financial Factors in Selecting Plan Investments.” It discourages fiduciaries from considering environmental, social and governmental (ESG) factors in their investments and creates burdens for investors looking to be socially conscious.
Cross-border derivatives regulation is the latest area in which Trump appointees are systematically dismantling the post-2008 framework for regulation of Wall Street and the global “too big to fail” banks. Today, the Commodity Futures Trading Commission drastically weakened their rules governing the massive global markets for financial derivatives.
“Rep. Adams’ amendment gives borrowers a chance to recover on the same timeline the economy is projected to need to return to pre-coronavirus productivity. Granting the same CARES Act suspension of student loan payments to private student loan borrowers, and extending the suspension to September 2021 will mean more funds for food, medicine, and basic household needs.”
“Rep. Dean’s amendment would put borrowers and their families on stronger financial footing and accelerate the economic recovery. Providing up to $10,000 in immediate assistance to pay down a private student loan offers much-needed and long-term relief to the 6 million private student loan borrowers who were left out of the CARES Act entirely.”
AFR joins the Civil Rights Movement and the nation in mourning the passing of John Lewis. We celebrate his leadership, his outsized contributions to the struggle for racial and economic justice – until the very end of his life – and his steadfastness in demanding and defending a more robust democracy. His work as a legislator with a strong moral compass advanced all these strands of work and highlighted the relationship between them all.
Now that Wall Street is reporting earnings for a quarter that took place entirely during the coronavirus pandemic, it is clear that the Federal Reserve has bailed out the bankers quite effectively. Workers, families, small businesses, states, and municipalities have not fared nearly as well.
Today, 103 civil rights, consumer and advocacy organizations and think tanks sent a joint letter to House and Senate leadership, urging them to include student debt cancellation in the next economic stimulus package.
Led by American for Financial Reform, Demos, Center for Responsible Lending and Freedom to Prosper, the letter stresses the ways that if left unaddressed, the student debt trap will deepen our current recession, slow our economic recovery, exacerbate inequality, and deepen a crisis already facing black and brown borrowers and families.
Over 100 organizations sent a letter to House and Senate leadership urging them to include student debt cancellation in the next coronavirus package.
States and localities provide critical public services, and more than 1.5 million state and local jobs have been lost since February. Without credit support like that which should be provided by this Facility, deeper job losses and service cuts can be expected as states grapple with unprecedented fiscal challenges in the face of the coronavirus crisis. Supporting states and localities is critical for economic recovery and for assisting communities impacted by the dual public health and economic crisis we face.
We write to express our concern with the Proposed Rule to establish terms and conditions governing deposit insurance applications, changes in control, and mergers involving ILCs