News Category: AFR in the News

Holiday Inbox Chaos and Other Signs of the Times with guest video from Americans for Financial Reform

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] market is now thick with loose underwriting standards, predatory and discriminatory lending practices, and increasing repossessions.’”

Additionally, critics like Americans for Financial Reform (AFR) have noted that the act offers “little protection for consumers from failed stablecoins.

“The bill is long on promises and very short on details,” Mark Hays, associate director for cryptocurrency and financial technology at Americans for Financial Reform, told TMD. “If this legislation passes without adequate safeguards for investors and with loopholes that could undermine existing financial regulations, when the next crypto crash comes—and it will come—more of us, even if we don’t invest in crypto, could be negatively impacted.”

The legislation is endorsed by Coalition for Sensible Safeguards; Accountable.US / Accountable.NOW; AFL-CIO; AFT; American Atheists; American Bird Conservancy; American Economic Liberties Project; American Federation of State County and Municipal Employees; Americans for Financial Reform;

“I think it will be a good step in the right direction of trying to get a handle on these climate related risks, especially in California, where there’s so many obvious problems in the market,” said Alex Martin, policy director for climate and finance at Americans for Financial Reform, in an interview with InsuranceNewsNet.