AFR joined this letter to Congress urging Congress to take the steps needed as soon as possible to clarify that COVID-19 stimulus payments to help households during this public health emergency are exempt from garnishments. View or download pdf here.
AFR and SBPC Send Letter to Navient Demanding Investment in Student Borrowers, not Shareholders Americans for Financial Reform (AFR) and The Student Borrower Protection Center (SBPC) sent a letter to the Board of Directors of Navient Corporation urging the company’s board to halt dividends and stock buybacks, pause planned compensation for itself and the company’s
AFR Education Fund and Demand Progress Education Fund sent a letter to the House Judiciary Committee regarding competition in the digital marketplace. Congress and regulators should promote the tradition of separating banking and commerce, by extending that set of principles to dominant platforms, especially online marketplaces and social networks.
Together, these facilities could deploy up to $2.3 trillion in new credit to the economy during the pandemic crisis period. Without major changes these facilities will not be effective in getting assistance to those most impacted by the crisis, and disclosure and transparency regarding specific borrowers and loan terms is lacking. Our comment provides specific recommendations to address these issues.
Today, 69 community, civil rights, consumer, and student advocacy organizations sent a letter to House and Senate leadership, urging them to include student debt cancellation in the next coronavirus package. The letter also calls on leadership to extend the suspension of payments on federal student loans through March 2021, as current estimates indicate that the economy will not recover to pre-virus levels until the third quarter of 2021.
AFR joined 39 other organizations urging Congress to staff the five-member panel tasked with monitoring the corporate bailout with members who have experience with oversight and/or investigations and have proven commitment to principles of transparency and accountability.