Statements and Press Releases Archives - Page 7 of 84

News Release: Revised CRA Regulations Have Teeth, Encourage Community Resilience Investments

Washington, D.C. — The Federal Reserve Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation released a joint final rule to revise the regulations implementing the Community Reinvestment Act (CRA). This decision caps a long-awaited effort to modernize the rules to reflect the changing structure of the banking system and needs for community loans, investments, and services.

News Release: SEC Commissioner Crenshaw Echoes AFR’s Concerns on Leveraged Loans Lacking Protection Under Securities Laws

Washington, D.C. — SEC Commissioner Caroline Crenshaw gave a notable speech at an event sponsored by the Center for American Progress on October 11th warning of the dangers posed by the fact that the $1.4 trillion leveraged loan market, often used to finance private equity takeovers, is not subject to securities laws, and therefore operates without many investor protections.

News Release: NCRC, CRL And AFR Blast Senate Democrats For Betraying Small Business Owners With Vote To Rescind Section 1071

WASHINGTON, DC — Five Democratic Senators betrayed small business owners Wednesday by voting with Republicans to rescind recently finalized small business lending data rules known as Section 1071, leading consumer advocacy groups said.

News Release: SEC Finalizes Important Ownership Reporting Rules Despite Fierce Industry Backlash

Washington, D.C. – The Securities and Exchange Commission’s decision to finalize important amendments governing beneficial ownership reporting despite fierce backlash from the hedge fund industry represents a significant move towards creating a more equitable investment landscape increasing transparency for other investors.

News Release: New Protections from Junk Fees Will Save Consumers Billions

WASHINGTON, D.C. – The Federal Trade Commission and Consumer Financial Protection Bureau’s announcement of new actions to crack down on junk fees is a critical initiative in stopping companies from ripping off consumers with hidden and misleading fees and compelling firms to provide upfront and accurate pricing on products and services.

News Release: Broad Coalition — From Teachers to Housing Advocates to Consumer Groups and Small Business Advocates — React to Supreme Court Oral Arguments

Washington, D.C. – Today, the Supreme Court heard oral arguments in Consumer Financial Protection Bureau (CFPB) v. Community Financial Services Association of America (CFSA), a case that could undermine the CFPB and create widespread havoc in the financial sector and our economy.

News Release: Legal Experts: Payday Lender Arguments “Fell Flat”

Washington, D.C. – This afternoon, Americans for Financial Reform held a virtual media briefing with the Constitutional Accountability Center and Democracy Forward to review the oral arguments in one of this term’s most important Supreme Court cases concerning the stability of the American financial system and the future of consumer protection: CFPB v. CFSA, a constitutional challenge to the funding structure of the Consumer Financial Protection Bureau (CFPB).

News Release: A Terrible Day in Court for the Payday Lending Lobby

Washington, D.C. – Americans for Financial Reform (AFR) Executive Director Lisa Donner, released the following statement in reaction to this morning’s oral arguments before the Supreme Court in the case, Consumers Financial Protection Bureau (CFPB) v. Community Financial Services Association of America (CFSA).

News Release: Voices Multiply Calling on Supreme Court to Reject Challenge to CFPB Funding

Washington, D.C. – A growing chorus of legal experts and policymakers are raising the alarm about the Supreme Court agreeing with the payday lending industry and concluding that the funding mechanism that Congress created for the Consumer Financial Protection Bureau is unconstitutional.

News Release: Supreme Court Ruling Against CFPB Could Worsen Government Shutdowns

Washington, D.C. – A ruling by the Supreme Court against the Consumer Financial Protection Bureau could imperil the functioning of numerous critical federal agencies that are funded outside of the annual appropriations process, a step that would worsen future government shutdowns and possibly impede the operations of the judiciary, according to Americans for Financial Reform and the former Republican chair of the Federal Deposit Insurance Corporation, Sheila Bair.