The Trump administration’s approval of the biggest, most complex bank merger in decades will raise credit card costs for working families, sap the earnings of small businesses, and undermine community investment.
The most recent plans for the CFPB from the Trump Administration—additional dramatic staff cuts, a narrowing of the agency’s focus, and a reduction in supervision and enforcement—all send the same dangerous message: that bad actors in finance have permission to rip people off with impunity.
President Trump illegally fired two Board members at the National Credit Union Administration yesterday, in yet another effort to incapacitate the agencies responsible for protecting everyday consumers and safeguarding the financial system.
This Tax Day, Community Catalyst and advocates across the country are sounding the alarm on a tax system that prioritizes profit over people—and demanding change. While teachers, EMTs, and nurses pay their fair share, corporations and the wealthiest people in America are handed tax breaks.
As communities across the country face increasingly severe and frequent climate disasters, a new guide released today by the Equitable & Just Insurance Initiative offers a slate of actions local and state governments can take to protect renters, homeowners, communities, and insurance policyholders.
The Senate approved the nomination of Paul Atkins to serve as Chair of the U.S. Securities and Exchange Commission on a partisan vote putting a deeply flawed nominee in office at a time of great market turmoil that could threaten investors, retirees and pensions, equity markets, and the broader economy.
At a time when far-right forces are literally dismantling the government, including stripping away most agencies’ regulatory and oversight capacity, further deregulation of the financial system would be a dangerous mistake that would help advance the far-right’s democracy-grab. The House and Senate Republicans are advancing so-called capital formation legislation that purports to be about helping companies raise capital but are really about undermining investor protections and exposing small investors—read people’s retirement and life savings—to the riskiest parts of the financial system.
The House Financial Services Committee today approved a massive giveaway to the cryptocurrency industry with a bill on stablecoins that lacks basic fraud and consumer safeguards and does nothing to address the corrupt crypto business deals that the Trump family is now pursuing. It also approved a bill to gut small business and farm lending transparency requirements under Section 1071 of the Dodd-Frank Act.
Congressional Republicans are showing their Big Tech true colors. Today, House Republicans will push to repeal a commonsense rule that requires payment apps like Cash App and PayPal to follow the same consumer protection rules as the payment apps the banks offer.
Today, the Office of the Comptroller of the Currency (OCC) announced its withdrawal from participation in the interagency Principles for Climate-Related Financial Risk Management for Large Financial Institutions. The climate principles covered large banks with over $100 billion in assets and were released jointly in 2023 by all three federal bank regulators: the OCC, the Federal Reserve Board, and the Federal Deposit Insurance Corporation (FDIC).