WASHINGTON, D.C. – Americans for Financial Reform and two leading financial regulatory experts, sent a detailed letter to the US Senate Committee on Agriculture, Nutrition and Forestry, highlighting major shortcomings in a new bill, the Digital Commodities Consumer Protection Act of 2022 (S. 4760/H.R. 8730).
The Federal Reserve should move quickly to reverse Trump-era deregulatory measures, complete rules required under the 2010 Dodd-Frank law, and tackle challenges to improve fairness and equity in the financial system, according to Renita Marcellin, senior policy analyst at Americans for Financial Reform.
The Department of Justice upheld the rule of law in its recently published opinion on the ability of the chair of the Federal Deposit Insurance Corporation to block votes sought by the majority of its board.
Ford Motor Company should be denied deposit insurance for its proposed new Ford Credit industrial loan company (ILC) charter, the National Community Reinvestment Coalition (NCRC), the National Consumer Law Center (on behalf of its low-income clients), Americans for Financial Reform Education Fund, and the Center for Responsible Lending wrote to the Federal Deposit Insurance Corporation (FDIC) on Wednesday.
News Release: President Biden’s Student Debt Cancellation Announcement is a Big Win for Borrowers, but Does Not Go Far Enough
President Biden’s decision to cancel student debt and extend the payment pause is welcome news to many borrowers, but the low amount of cancellation and the means-testing requirements leaves many still suffering under the crushing weight of student debt.
News Release: Federal Reserve and OCC Should Reject TD Bank’s Proposed Merger with First Horizon Bank, Groups Write in Comment Letter
Amid growing concern about corporate consolidation, the Center for Responsible Lending (CRL) and Americans for Financial Reform Education Fund are leading a letter calling for the Federal Reserve and the Office of the Comptroller of the Currency (OCC) to reject a proposed merger between TD Bank and First Horizon Bank.
Americans for Financial Reform released a record of votes during the first session of the 117th Congress regarding consumer protections, climate financial regulation, and Wall Street accountability. The report includes a selection of votes on legislation and on confirmations of President Biden’s nominees to positions important for financial regulation and Wall Street accountability.
WASHINGTON — As the Securities and Exchange Commission (SEC) closes a comment period on two proposed rules that would create a standard framework for funds classified as environmental, social, and governance (ESG), advocacy groups today called on the agency to adopt stricter standards for the fastest-growing investment asset sector in the world.
Federal banking regulators should ensure that banks advance financial inclusion, further racial justice in lending and avoid making loans or investments that harm the environment or cause housing displacement, a group of public interest organizations argued today.
News Release: Community Reinvestment Act Regulatory Update Offers Opportunity to Address Climate Crisis
A coalition of groups aiming to further financial inclusion, affordable housing, and racial and climate justice called for strengthened environmental justice provisions as the comment period for an update of the rules implementing the Community Reinvestment Act (CRA) comes to a close.