News Category: AFR in the News
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.
The Intercept: You Will Never Send Money Digitally Without a Private Company — If the GOP Gets Its Way
“You hear a lot of high-minded rhetoric about CBDCs being a threat to people or privacy, but at the end of the day, this is really about what roles the public and private sector play in finance,” said Mark Hays, an advocate with the left-leaning groups Americans for Financial Reform and Demand Progress.
The Intercept: You Will Never Send Money Digitally Without A Private Company – If the GOP Gets Its Way
“You hear a lot of high-minded rhetoric about CBDCs being a threat to people or privacy, but at the end of the day, this is really about what roles the public and private sector play in finance,” said Mark Hays, an advocate with the left-leaning groups Americans for Financial Reform and Demand Progress.
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.
Public Citizen: California Department of Insurance Long-Term Solvency Planning Proposal Response
Public Citizen and Americans for Financial Reform Education Fund support the efforts by the California Department of Insurance (CDI) to require insurers to engage in long-term solvency planning in response to emerging risks and urge strengthening of the proposed framework.