Statements and Press Releases Archives - Page 32 of 86

News Release: AFR Education Fund Statement on Office of Financial Research Staff Working Paper on the Volcker Rule

This new paper does not contradict previous comprehensive studies finding that liquidity in the corporate bond market has been robust and has shown no signs of deterioration over the period in which the Volcker Rule was implemented. The OFR staff working paper does find evidence that banks affected by the Volcker Rule charge significantly lower markups for newly issued bonds they underwrite (that are exempt from most Volcker Rule restrictions on proprietary trading) than they do for other types of bond trades covered by the Volcker Rule.

Joint Statement: Advocates Oppose FHFA’s Decision to Remove Language Preference Question from Loan Application

The Americans for Financial Reform (AFR) Language Access Task Force strongly opposes the decision announced yesterday by the Federal Housing Finance Agency (FHFA) to remove the question about a borrower’s language preference from the revised Uniform Residential Loan Application (URLA). The Task Force members include the Americans for Financial Reform Education Fund, the Center for Responsible Lending, Connecticut Fair Housing Center, Consumer Action, Empire Justice Center, NAACP, National Coalition for Asian Pacific American Community Development (National CAPACD), National Consumer Law Center, National Council of Asian Pacific Americans, and National Fair Housing Alliance.

Stop Wall Street Looting Act Would Curb Worst Private Equity Abuses

“Private equity and hedge funds now wield enormous influence over the American economy, often with terrible consequences for workers and communities,” said Lisa Donner, executive director of Americans for Financial Reform. “We need effective rules of the road to stop predatory practices by these Wall Street giants.”

Advisory: Briefing for Media on Stop Wall Street Looting Act at 3pm ET

Briefing on Stop Wall Street Looting Act of 2019 will be at 3pm ET. To join call RSVP to Kyra Sadovi, kyra@ourfinancialsecurity.org and dial (800) 230-1096 and ask for “Private Equity Legislation” conference call.

News Release: Public Interest Groups Support Bill to Address Private Equity Abuses

Over 15 major public interest groups have signed on to support the Stop Wall Street Looting Act of 2019, which was introduced today in the House and Senate.

Legislation: Summary and Analysis of Stop Wall Street Looting Act

The Stop Wall Street Looting Act would curb the worst abuses of Wall Street private equity executives by making them liable for damage they cause, protecting the interests of workers, preventing looting of target companies, and improving transparency for investors.

News Release: AFR Statement on Financial Services Committee Markup on Credit Reporting

“Credit reports and credit scores play a critical role in the economic lives of Americans. They are the gatekeeper for affordable credit, insurance, rental housing, and sometimes unfortunately even a job. Yet they suffer from unacceptable rates of inaccuracy. This package would enact a sea change that would make the American credit reporting system more accurate and fairer to consumers.”

News Release: Groups Sign Stock Buyback Petition

“The money that is being siphoned off from earnings to increase executive bonuses doesn’t just make wealthy insiders wealthier,” said Heather Slavkin Corzo, senior fellow at Americans for Financial Reform. “It is money that could have been used to invest in making the business more competitive and pay workers living wages.”

News Release: Consumer and Civil Rights Groups Send Letters to FDIC, OCC, and Fed Urging them to Prevent Bank Payday Loans

Today, Americans for Financial Reform joined a coalition of national consumer and civil rights groups in writing to top banking regulators on the importance of preventing banks from once again issuing payday loans that trap people in a cycle of debt.

News Release: Statement on SEC Approval of Reg BI

Today, the SEC finalized a rule that will allow financial professionals to claim they are required to act in investors’ best interests. But “Regulation Best Interest” falls far short of what ordinary investors need to ensure they don’t fall prey to self-interested advice.