Category Archives: Statements and Press Releases

News Release: Senate Passes Huge Giveaway to Crypto Industry, Big Tech and Trump Family

The GENIUS Act (S.1582) took another step closer to becoming law after the Senate passed this alarming bill this evening, which links crypto tokens purportedly pegged to the U.S. dollar – stablecoins –  to the broader financial system without meaningful consumer protections or safeguards for investors. This bill also stands to enrich President Trump and his family personally via their many crypto business ventures.

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News Release: Senate Passes Huge Giveaway to Crypto Industry, Big Tech and Trump Family

The GENIUS Act (S.1528) took another step closer to becoming law after the Senate cleared a key procedural vote towards  passing this alarming bill that links crypto tokens purportedly pegged to the U.S. dollar – stablecoins –  to the broader financial system without meaningful consumer protections or safeguards for investors. This bill also stands to enrich President Trump and his family personally via their many crypto business ventures. 

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Statement: AFR Statement on House Committees’ Passage of the so-called CLARITY Act

Yesterday, a majority of members of the House Financial Services and Agriculture Committees voted to approve H.R. 3633, the so-called CLARITY Act, a bill written by and for the crypto industry that will reward predatory and exploitative crypto business models and leave consumers, communities, and investors with weak protections and little recourse when the next speculative crypto bubble inevitably bursts. 

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Statement: AFR Statement on Trump Signing Anti-Consumer, Anti-Oversight Bills

Today, President Trump signed two laws that overturned commonsense consumer protections from the Consumer Financial Protection Bureau (CFPB), one capping overdraft fees and one supervising digital payment apps. Trump’s presidential signature paves the way for banks to harvest billions of dollars in fees and eliminates privacy and account protections for millions of digital payment app users.

News Release: Senate Rejects Fast Tracking of Stablecoin Legislation

The Senate thankfully blocked plans to fast-track legislation that would have emboldened the crypto conflicts of interest crisis that are emanating from the White House. This toothless legislation posed real risks for consumers and the financial system, but a vote to advance this legislation would have rewarded the President for enriching himself and his family through a crypto business empire.

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News Release: Broad Coalition of State Groups Urges Congress to Reject Attempts to Gut Consumer Protections

Yesterday, the House Financial Services Committee voted on party lines to strip away consumer and investor protections to pay for tax breaks for billionaires and corporations as part of the budget reconciliation package. The Committee’s legislation included deep cuts to the funding for the  Consumer Financial Protection Bureau (CFPB), an agency dedicated to protecting people from financial predation and scams.

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News Release: Private Equity Climate Risks project launches new private equity asset tracker, as part of its energy tracker, exposing continued fossil fuel investments by top 20 private equity firms

Today, the Private Equity Climate Risks (PECR) data consortium project launched an asset tracker with new data reflecting the state of private equity energy investments as of April 2025. This enhanced Global Energy Tracker includes the previous Global Energy Company Tracker, updated in January 2025, and the new Global Fossil Fuel Asset Tracker, providing an unparalleled look into the private equity industry’s role in the energy sector.

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