WASHINGTON, D.C. – The Consumer Financial Protection Bureau’s new protections for big bank customers against abusive overdraft charges is a critical initiative in reforming a practice that has drained billions of dollars in junk fees from consumers.
“The CFPB has done its homework here,” said Carter Dougherty, a spokesman for the left-leaning Americans for Financial Reform. “Some banks have gotten rid of overdrafts entirely and the world is still spinning on its axis. If bankers can’t run a business without relying on gotcha fees, they should find a new line of work.”
Washington, D.C. – The Securities and Exchange Commission’s (SEC) approval of cryptocurrency exchange-traded funds (ETFs) will reward bad actors in the crypto industry and amplify risks for investors, according to Americans for Financial Reform Education Fund.
The Securities and Exchange Commission (SEC) should continue to prioritize investor protections that guard against the fraudulent behavior endemic to the crypto industry by rejecting applications for Bitcoin exchange-traded funds (ETFs), according to Americans for Financial Reform Education Fund.
Washington, D.C. – Financial regulators tasked with executive pay reform under Section 956 of the Dodd-Frank Act of 2010 should act swiftly to protect consumers, depositors, and the public from excessive risk-taking of the sort that led to a banking crisis last year.
Washington, D.C. – The Consumer Financial Protection Bureau’s (CFPB) latest report reveals that consumers continue to face excessive and punitive overdraft fees despite recent changes implemented by banks and credit unions, underscoring the need for strong regulatory action.
Washington, D.C. – The Federal Trade Commission (FTC) and Department of Justice’s (DOJ) issued strong final merger review guidelines that are a crucial step towards addressing the surge in market consolidations largely fueled by private equity leveraged buyouts.
Washington, D.C. – The following steering group members of the Save Our Retirement coalition – AARP, AFL-CIO, AFSCME, Americans for Financial Reform, Better Markets, Center for American Progress, Consumer Federation of America, Economic Policy Institute, and Pension Rights Center – issued the following statement applauding the Department of Labor (DOL) for holding a public hearing on the proposed Retirement Security Rule:
WASHINGTON, DC – Amidst growing concerns over climate risks and the spread of corporate-financed disinformation campaigns around the use of environmental, social, and governance (ESG) factors in investing, Americans for Financial Reform Education Fund (AFREF) and Take On Wall Street launched: ESGexplainer.org. This website provides clear, accurate information on the importance of ESG investing for individual investments and overall portfolio health.
The Financial Stability Oversight Council (FSOC) issued its 2023 annual report, noting that escalating climate change-driven disasters are “imposing significant costs on the public and the economy, with economic costs from climate change expected to grow.” Building on its 2022 report and the tumultuous year