Category Archives: Statements and Press Releases

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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.”

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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.”

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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.

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News Release: In Comprehensive Official Comment Letter, Broad Coalition Rebukes Trump-Appointed CFPB Director’s Plan To Gut Payday Loan Rule

Americans for Financial Reform Education Fund, as part of a coalition of civil rights, consumer, and labor groups, submitted an official comment letter to the Consumer Financial Protection Bureau excoriating CFPB Director Kathy Kraninger’s proposal to gut a 2017 rule that was issued to stop payday loan debt traps. The coalition’s comment letter, submitted on the last day of the comment period, is a comprehensive rebuttal to Kraninger’s rationales for rolling back consumer protections on payday loans.

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News Release: Statement On SEC Auditing Decision

Everyone who lived through the ENRON debacle, the 2008 financial crisis, or high school math class knows that when it comes to complex calculations, it’s good practice to have someone else check your work to confirm that you got it right.

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News Release: AFR Statement On House Hearing On Auto Lending Discrimination

“A car is fundamentally important to many Americans ability to get to work and to take care of themselves and their families,” said Rion Dennis, advocacy and legislative strategist, at Americans for Financial Reform. “Congress, and the regulators – including both the CFPB and the FTC – need to take forceful action to end the injustice of people of color being charged more to purchase and drive one.”