Washington, D.C. – The Consumer Financial Protection Bureau’s final rule implementing Section 1071 of the Dodd-Frank Act will allow better enforcement of fair lending laws and help increase access to sustainable credit for small businesses and women- and minority-owned small businesses in particular.
Washington, D.C. – The banking regulation plan outlined by the White House today is an absolutely necessary response to the financial instability triggered by the collapse of Silicon Valley Bank on March 10. But only continuing action by the president, the regulators, and Congress can achieve the changes necessary for a more equitable and stable financial system.
Washington, D.C. – The Securities Exchange Commission’s case against crypto trading platform Beaxy and its executives for operating an unregistered exchange will build out the ongoing effort by regulators to enforce laws on the books to stop harmful activities within the crypto industry, according to Americans for Financial Reform and Demand Progress.
The Second Circuit Court of Appeals today unanimously declared the funding structure of the Consumer Financial Protection Bureau (CFPB) is constitutional, rejecting the Fifth Circuit Court’s ruling in CFPB v. CFSA and writing that it “cannot find any support” for the Fifth Circuit’s ruling in Supreme Court precedent.
Washington, D.C. – President Biden vetoed a misguided Congressional Review Act resolution that sought to nullify a Department of Labor rule that protects workers and their life savings.
President Biden’s and Congress’s efforts to begin to hold the executives of Silicon Valley Branch accountable are important to rein in the reckless and imprudent practices of senior bank executives, who have gamed our financial system and hurt communities in the process. True accountability includes executives forfeiting enormous bonuses, while their bank is on the brink of failure.
Washington, D.C. – The swift demise of Silicon Valley Bank and Signature Bank and the actions taken by the federal regulators over the weekend underscore the folly of the partial rollback of the Dodd-Frank law in 2018 and the need, looking forward, for strict oversight of large banks and the entirety of the financial system.
Washington, D.C. – President Biden’s recent budget proposal would bring billionaires and big corporations closer to paying their fair share in taxes. It would also disincentivize wasteful spending on stock buybacks.
Washington, D.C. – The Senate passed a resolution today to nullify a Department of Labor rule that protects workers and their life savings, following on the heels of yesterday’s House vote. President Biden has indicated that he will veto the resolution.
WASHINGTON, D.C. – Americans for Financial Reform, the Connecticut Fair Housing Center, Consumer Action, National Coalition for Asian Pacific American Community Development (National CAPACD), the National Consumer Law Center, the National Fair Housing Alliance, National Housing Resource Center, and UnidosUS celebrate today’s decision by Fannie Mae and Freddie Mac (the Enterprises), that will require lenders selling loans to the Enterprises to collect information on borrowers’ preferred language, as well as any housing counseling services they’ve used.