Category Archives: Press Releases

Letter: Pension Funds Should Decline Blackstone Investments, Urge End to Political Contributions

Blackstone CEO Stephen A. Schwarzman’s ongoing refusal to firmly break with former President Donald Trump in spite of Trump’s role inciting the insurrection exposes investors to unacceptable levels of reputational risk. Schwarzman personally donated $3 million to a PAC supporting Trump’s 2020 campaign, money earned from fees and expenses paid for by your pension fund and the working people whose retirement savings you are responsible for investing.

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News Release: Fed Right to Abandon Relief Measures for Big Banks

Today, banking regulators announced that they would not be extending one of the largest elements of pandemic-related regulatory relief, the exemption that allowed banks to remove almost $2 trillion in government securities assets from their balance sheets for the purposes of complying with capital regulations. That was the right thing to do. 

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a student with books - Photo by Element5 Digital on Unsplash

Statement: AFR applauds long-overdue debt relief for some defrauded borrowers

FOR IMMEDIATE RELEASE: MARCH 18, 2021 Contact: Alexis Goldstein, alexis@ourfinancialsecurity.org Statement of Alexis Goldstein, Senior Policy Analyst, Americans for Financial Reform: It is good to see the Department of Education finally take significant steps to fulfill the promise then-Secretary Arne Duncan made in 2015, that

Photo by Mikael Kristenson on Unsplash

Joint Statement: Coalition Applauds Bicameral Resolution Calling on Biden to Cancel $50K of Student Debt

We, the undersigned 50 organizations, applaud Majority Leader Chuck Schumer, Senator Elizabeth Warren; Representatives Pressley, Adams, Bowman, Jones, Omar, and Torres; and Chairwoman Waters for their bicameral resolution urging President Biden to take executive action to cancel up to $50,000 in federal student loan debt using legal authorities already granted by Congress. Cancelling student debt will provide both immediate financial relief to millions of Americans and crucial economic stimulus for everyone during this protracted crisis. This action would also boost GDP and job creation at a time of intense labor shocks and economic uncertainty.

a student with books - Photo by Element5 Digital on Unsplash

News Release: Federal student loan borrowers need more relief

As the payment pause on federal student loans was extended without modification, the suspension on payments and waiving of interest only goes to borrowers with federally-held loans. It continues to leave an estimated 9 million of federal student loan borrowers without any relief at all.

News Release: AFR Applauds Nomination of Chopra to Lead CFPB

We applaud the nomination of Rohit Chopra to lead the CFPB. His commitment to consumer protection, his effectiveness at using the tools of government to serve the public interest, and his willingness to challenge powerful corporate interests when necessary are exactly what the Bureau needs to fulfill its crucial consumer protection mission.

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Empty chairs in a college auditorium - Photo by Nathan Dumlao on Unsplash

News Release: Over 325 Orgs Call on President-Elect Biden to Cancel Federal Student Debt on Day One using Executive Action

Today, more than 325 organizations sent an updated letter to President-Elect Biden and Vice President-Elect Harris, calling on them to use executive authority to cancel federal student debt on day one of their administration. The letter highlights that cancelling student debt would stimulate the economy, help reduce racial wealth gaps, and could have a positive impact on health outcomes. The groups write that “executive action is one of the few available tools that could immediately provide a boost to upwards of 44 million borrowers and the economy.” Further, this action would be an important first step in advancing the President-Elect’s campaign priorities to ensure racial equity, focus on economic recovery, and deliver COVID-19 relief.