Today, AFR and 80 allied community, civil rights, consumer, civic and other advocacy groups urged Congress to fight for an effective Consumer Financial Protection Bureau to carry out its statutorily mandated consumer protection mission and to oppose any legislative efforts to weaken or defund the agency.
View or download a PDF of the testimony here. Tom Feltner, Associate Director of Consumer Policy at Americans for Financial Reform, joined consumer and healthcare advocates to urge the passage of Connecticut House Bill 5127. If passed, the bill would protect Connecticut patients from the harmful financial practices associated with medical credit cards by prohibiting healthcare providers
AFREF submitted comments opposing the Office of Comptroller of the Currency’s effort to grant novel bank charters to cryptocurrency, financial technology, and Big Tech platforms. Congress never intended for national bank trust charters to be used by any company that wanted one. The creation of new bank charters ignores congressional intent, violates federal banking law, and contravenes a century of regulatory history and judicial precedent.
AFREF filed comments opposing the attempt by Trump family’s crypto company World Liberty Financial to get its own bank charter. The proposed new crypto bank would create dangerous risks to the financial system and economy and give WLF the public benefits of being a member bank of the Federal Reserve.