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
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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
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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.
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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.
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Private Equity Stakeholder Project: Wall Street’s gas addiction fuels the AI boom, derails climate progress
“The growth of private equity-owned gas power plants cuts into hopes of progress on renewable energy,” said Hibba Meraay, Research Analyst at Americans for Financial Reform Education Fund. “By backing these gas power plants, private equity contributes to global warming while placing an uneven burden of health risks and increased emissions on the global south…
Jacobin: The Bill That Will Make Bank Failures More Likely
The Walrus: Elon Musk Could Soon Be the World’s First Trillionaire
Opposing Musk’s $1 Trillion Pay Package: Message Guidance
