Washington, D.C. – The sudden crisis in the Steward hospital system in Massachusetts is a cautionary – and outrageous – tale of how Wall Street’s predatory practices in health care can harm or destroy health institutions in the long term.
Washington, D.C. – The minor changes proposed by the Office of the Comptroller of the Currency (OCC) to the bank merger review process fail to grapple with the harms of consolidation and are no substitute for a thorough rethinking of merger guidelines that have remained unchanged for the last three decades.
Washington, D.C. – Americans for Financial Reform Education Fund is urging the Supreme Court to take up a case, Kirschner v. JP Morgan, that could change the way regulators treat the syndicated loans, and potentially improve investor protections in this $3 trillion market.
“The math isn’t mathing when it comes to property losses driven by climate change,” Caroline Nagy, senior policy counsel with the progressive group Americans for Financial Reform, said in an interview. “There’s a very good argument to be made that damage caused by climate change is an area where we need the government to take a role.”
WASHINGTON, D.C. – The Consumer Financial Protection Bureau’s new protections for big bank customers against abusive overdraft charges is a critical initiative in reforming a practice that has drained billions of dollars in junk fees from consumers.
“The CFPB has done its homework here,” said Carter Dougherty, a spokesman for the left-leaning Americans for Financial Reform. “Some banks have gotten rid of overdrafts entirely and the world is still spinning on its axis. If bankers can’t run a business without relying on gotcha fees, they should find a new line of work.”
Washington, D.C. – The Securities and Exchange Commission’s (SEC) approval of cryptocurrency exchange-traded funds (ETFs) will reward bad actors in the crypto industry and amplify risks for investors, according to Americans for Financial Reform Education Fund.
The Securities and Exchange Commission (SEC) should continue to prioritize investor protections that guard against the fraudulent behavior endemic to the crypto industry by rejecting applications for Bitcoin exchange-traded funds (ETFs), according to Americans for Financial Reform Education Fund.
Washington, D.C. – Financial regulators tasked with executive pay reform under Section 956 of the Dodd-Frank Act of 2010 should act swiftly to protect consumers, depositors, and the public from excessive risk-taking of the sort that led to a banking crisis last year.
Washington, D.C. – The Consumer Financial Protection Bureau’s (CFPB) latest report reveals that consumers continue to face excessive and punitive overdraft fees despite recent changes implemented by banks and credit unions, underscoring the need for strong regulatory action.