But too much of what should be plumbing to serve the “real economy” of households and businesses has turned into an unstable, money-extracting casino dominated by powerful giants.
Advocacy
Resources
Updates
-
Weakening Bank Capital Rules Puts Us All at Risk
This summer, federal bank regulators proposed a rule to massively weaken the key post-2008 financial crisis banking regulation designed to make the mega banks more resilient and reduce the risk of their failure.
AFR in the News
-
Black Agenda Report: Unable to Squeeze Another Dime From Black People, a Subprime Economy Runs Aground
In a 2022 paper, Emily Hirtle, a policy associate for Americans for Financial Reform wrote: “Racism flourishes in the subprime auto market as well – as of 2016, at least eight banks had been accused of increasing interest rates for Black and Latinx borrowers. As Senator Elizabeth Warren remarked in a 2015 speech: ‘The [auto]…
-
Jacobin: The Bill That Will Make Bank Failures More Likely
“All banks, especially new ones, must have an adequate capital cushion to absorb their losses during times of stress to avoid failing and potentially causing contagion,” Renita Marcellin, advocacy and legislative director for the depositor advocacy group Americans for Financial Reform, told lawmakers at a 2023 congressional hearing on banking regulation.
-
CFO Brew: CFPB in danger of closing after Trump administration says its funding source is illegal
Rodríguez Valladares said the CFPB’s dismantling was “long in coming,” since members of the GOP have tried to scrap the agency since its inception. She said nonprofit consumer advocates like Americans for Financial Reform will continue to spotlight issues that the CFPB focused on, but lack the weight (and financial penalties) of a government regulator.
Jacobin: The Bill That Will Make Bank Failures More Likely
The Walrus: Elon Musk Could Soon Be the World’s First Trillionaire
