Washington, D.C. – Commerce Department guidelines finalized today are a critical step in ensuring that public investment in chip makers is used for productive ends instead of squandered on stock buybacks.
Washington, D.C. — The Second Circuit Court of Appeals has accepted an amicus brief arguing that syndicated loans are risky debt instruments that pose “significant economic implications for families and communities” and must be regulated as securities, according to Americans for Financial Reform.
WASHINGTON, D.C. — The Environmental Protection Agency (EPA) released its initial program design guidance for the Greenhouse Gas Reduction Fund (GHGRF or “fund”). This key environmental justice and climate provision of President Biden’s Inflation Reduction Act will help provide direct investment toward climate mitigation and resilience projects in communities across the country.
President Biden yesterday seized the moment of his State of the Union Address to reiterate his administration’s determination to crack down on junk fees – and especially credit card late fees – that companies use to rip off vulnerable consumers.
Washington, D.C. – A new plan from the Consumer Financial Protection Bureau (CFPB) announced today should save real people real money – $9 billion each year – by capping the late charges that credit card companies impose on customers. But the consumer agency also faces an existential threat that the Supreme Court may soon address.
Washington, D.C.— The Securities and Exchange Commission’s proposal to prohibit conflicts of interest in securitizations, though a long time coming, will finally address the problem of Wall Street arranging bets in which financial institutions effectively rip off their own clients.
Washington, D.C. – The $3.7 billion dividend payout by Albertsons Companies at the behest of a consortium led by private equity firm Cerberus will enrich people who are already extremely wealthy at the expense of communities and workers nationwide.
The Federal Reserve pilot climate scenario analysis to spur six major U.S. banks to evaluate their climate risks represents a necessary step towards getting these financial institutions to understand their transition risks and the severe physical threats on their residential and commercial real estate portfolios. But there needs to be a more assertive approach to how megabanks manage their climate risks.
Washington, D.C. – The record Consumer Financial Protection Bureau settlement with Wells Fargo over widespread wrongdoing in providing auto loans, mortgages, and deposit accounts represents an opportunity for all federal regulators to force durable change at the oft-penalized megabank.
Sen. Jack Reed of Rhode Island today warned that a recent court decision in the Fifth Circuit, though aimed at the Consumer Financial Protection Bureau, also threatens the funding stream of the Federal Reserve that underpins its independence from politics.