For over a decade, AFR has supported the work of the CFPB, which has brought significant reforms and millions of dollars for consumers across the country. We also mobilized against the agency’s lousy leadership under the previous administration. Now, we are defending the CFPB after a recent right-wing court attacked its funding mechanism.
Today, the Senate will hold a hearing on the proposed acquisition of grocery chain Albertsons by Kroger, the nation’s largest standalone grocery retailer. Sens. Amy Klobuchar (D-Minnesota) and Mike Lee (R-Utah), both skeptics of the merger, will preside over the hearing.
The SEC’s regulatory agenda is under attack, and Chair Gary Gensler is appearing before the Senate Banking Committee tomorrow. This memo for the media addresses the SEC’s work across eight different areas.
WASHINGTON, D.C. – Americans for Financial Reform and two leading financial regulatory experts, sent a detailed letter to the US Senate Committee on Agriculture, Nutrition and Forestry, highlighting major shortcomings in a new bill, the Digital Commodities Consumer Protection Act of 2022 (S. 4760/H.R. 8730).
The Department of Justice upheld the rule of law in its recently published opinion on the ability of the chair of the Federal Deposit Insurance Corporation to block votes sought by the majority of its board.
More than 90 organizations—including the Action Center on Race and the Economy (ACRE) and Americans for Financial Reform Education Fund (AFREF) —submitted two comment letters to the Securities and Exchange Commission (SEC) today urging the agency to enshrine stronger rules for environmental, social, and governance (ESG) investing to stop the current practice of “greenwashing.”
As the Securities and Exchange Commission (SEC) closes a comment period on two proposed rules that would create a standard framework for funds classified as environmental, social, and governance (ESG), advocacy groups today called on the agency to adopt stricter standards for the fastest-growing investment asset sector in the world.
A decades-long campaign to overturn Roe vs. Wade has succeeded thanks to a hard-right turn by a Supreme Court packed with justices appointed by President Trump. The right to abortion is more than a medical procedure. Reproductive freedom is an element of economic justice, and the restrictions and bans that are not long in coming will surely fall hardest on Black and Brown communities. Congress needs to act quickly to secure this right.
WASHINGTON – A report released today by the Stop The Debt Trap coalition finds auto repair shops across the country are offering predatory loans through EasyPay Finance and Transportation Alliance Bank (TAB Bank) that promise no interest if paid in 90 days but end up carry annual interest rates up to 189% – even in states where a rate that high is illegal. The report highlights some of the hundreds of complaints detailing deceptive and abusive practices concerning loans by EasyPay Finance, its parent company Duvera Billing Services, and Utah-based bank, TAB Bank, which helps EasyPay evade state laws. EasyPay Finance loans are available at auto repair and tire shops around the country, including at major chains such as AAMCO, Big O Tires, Grease Monkey, JiffyLube, Meineke, Midas, and Precision Tune Auto Care.
In response to news yesterday that the Meta (Facebook) backed Diem Association has been sold to California bank Silvergate, a financial institution friendly to crypto finance projects, Demand Progress Education Fund and the Americans for Financial Reform Education Fund released the following statement.