Statements and Press Releases Archives - Page 22 of 84

Statement: AFR Mourns Passing of AFL-CIO President Trumka

Americans for Financial Reform mourns the passing of AFL-CIO President Richard Trumka, and our thoughts are with his family, friends, and the workers for and alongside whom he fought for decades. President Trumka was committed to the fight for Wall Street accountability as an important ingredient of advancing worker rights and racial and economic justice, and under his leadership, the AFL-CIO has been a key pillar of the fight for a fairer, financial system. We will continue to be inspired by him as we continue to work for economic justice and racial equity.

News Release: Bipartisan legislation would expand Military Lending Act protections on payday loans to veterans and civilians alike

Americans for Financial Reform today applauded the introduction of the Veterans and Consumers Fair Credit Act of 2021, legislation that would extend the 36 percent APR interest rate cap on payday and car-title lenders in the Military Lending Act (MLA) to cover all Americans.

News Release: SEC Must Step Up Enforcement of Rules on Private Funds

The Securities and Exchange Commission should use the full scope of its authority to increase transparency and reduce hidden risks to investors and markets from the private equity industry, according to a letter from 15 public interest groups.

News Release: Fed Stress Tests Unleash Bank Capital Distributions at Expense of Financial Stability

The Federal Reserve has announced the results of its 2021 bank stress tests. Since then, these results have led a steady parade of the largest banks in the country to announce dramatic increases in dividends. The stress tests will also enable greater share buybacks and other capital distributions by banks. This will enrich senior executives and large shareholders, while putting financial stability at risk.

Joint Press Release: Advocates Push for Increased Enforcement and Later Rule Sunset to Prevent Improper Foreclosures as the Consumer Financial Protection Bureau Issues Final Servicing Rule

Today, the Consumer Financial Protection Bureau (Bureau) released its final rule under the Real Estate Settlement Procedures Act (RESPA) related to helping homeowners impacted by the COVID-19 pandemic. The rule contains important consumer protections to help stave off unnecessary foreclosures, but the time period for the rule’s foreclosure protections should be extended and the Bureau should vigorously enforce it to ensure homeowners receive the intended protections.

News Release: AFR Applauds Passage of Congressional Review Act Resolution Overturning Trump-Era Rule Enabling Nationwide Predatory Lending

“This vote ends the Trump administration’s enabling of predatory lending in blatant violation of state consumer protection laws,” Jun added.

Joint Statement: 59 Organizations Call on SEC to Adopt Mandatory Climate and ESG Disclosures

“Investors know that climate change is a threat that some companies aren’t taking seriously enough. They need information that lets them better understand climate risks and opportunities to see who they can trust to thrive in a low-carbon future economy.”
–Alex Martin, Senior Policy Analyst, Americans for Financial Reform Education Fund

Statement: Biden Executive Order on Climate Finance is a Strong Step

President Biden today issued an executive order that outlines the administration’s plan to manage the financial risks associated with the climate crisis. The order highlights the administration’s determination to use all the resources of the federal government to combat the threat that climate change poses to financial stability.

News Release: Advocates Applaud Senate Rollback of Pro-Predatory Lending Rule

In a 52-47 vote last night, the U.S. Senate voted to overturn a Trump administration regulation that would allow predatory lenders to evade state interest rate laws by putting a bank’s name on the paperwork.

Joint Release: Advocates Applaud Senate Repeal of National Banking Regulator’s Predatory Lending Rule; Urge the House to Act Soon

“The House must now move swiftly to join the Senate and prevent any more rent-a-bank schemes from taking root in the 45 states that cap or otherwise regulate interest rates,” said Linda Jun, senior policy counsel for Americans for Financial Reform.