Washington, D.C. — Americans for Financial Reform applauds the House Financial Services Committee’s passage of Rep. Maloney’s long-standing bill, the Overdraft Protection Act, which passed by a vote of 27-22.
WASHINGTON – Today a coalition of consumer advocates filed comments with the Federal Deposit Insurance Corporation (FDIC), including a petition signed by more than 44,500 people and a letter describing hundreds of consumer complaints, urging the FDIC to consider Transportation Alliance Bank’s (TAB Bank) predatory rent-a-bank lending in assessing the bank’s performance in meeting community needs under the Community Reinvestment Act.
WASHINGTON-D.C. — The irony of the U.S. Chamber of Commerce, which has numerous corporate lawbreakers among its members, complaining about a government agency busting corporate lawbreakers is almost too thick for words.
Washington, D.C. – The U.S. House Committee on Financial Services convened today to mark up a series of proposed laws, including a bill to close the industrial loan company (ILC) loophole. The ILC loophole allows Big Tech and other nonbank companies to offer financial products and services without complying with the safeguards and oversights required of bank holding companies.
Over 60,000 people support strong climate disclosure rules proposed by the U.S. Securities and Exchange Commission (SEC), and over 10,000 individual comments were submitted during the public input period, which closes today.
Washington, DC – A bill introduced by Sens. Kirsten Gillibrand and Cynthia Lummis to revamp regulation of cryptocurrencies is little more than a giveaway to an industry that wraps itself in the mantle of innovation but poses serious risks to investors, consumers, and possibly even financial stability.
Washington, D.C. – The Securities and Exchange Commission has appointed Andrew Park, senior policy analyst at Americans for Financial Reform, to its Investor Advisory Committee, where he will serve a 4-year term providing expertise to the agency on a wide range of issues.
This week the Department of Education announced that it will discharge all remaining federal student loans for borrowers who attended any campus owned or operated by Corinthian Colleges Inc. The relief will total $5.8 billion and cancel debt for 560,000 borrowers, without any additional action needed.
WASHINGTON, D.C. — Proposals by the Securities and Exchange Commission to prevent misleading use of labels on funds that weigh environmental, social and governance factors and to require critical disclosures about these funds’ strategies are a welcome step toward protecting investors who choose these types of investments.
WASHINGTON – The predatory lending practices of EasyPay Finance and Utah-based, FDIC-supervised Transportation Alliance Bank (TAB Bank) are hurting military servicemembers, veterans, and their families, according to a new report from a coalition of consumer advocacy groups released in advance of Memorial Day.