“This attack on fair lending law would roll back an important economic and racial justice win for farms and small businesses,” said Patrick Woodall, managing director at Americans for Financial Reform. “Collecting this basic information is critical to enforcing civil rights laws and addressing the longstanding discrimination and inequality in access to credit for women and people of color who own businesses and farms.”
Today, Americans for Financial Reform called on Congress to adopt comprehensive reforms for the credit reporting industry and the unregulated data broker market, rather than rolling back existing protections.
Today, the Mamdani administration announced that it will create a new program to provide cheaper property and liability insurance to landlords of subsidized affordable housing and rent-stabilized buildings in New York City.
Yesterday, the FBI’s Internet Crime Complaint Center (IC3) released its annual Internet Crime Report, which analyses complaints received from online financial crime survivors each year to determine the scope and scale of such criminal activity and who is most impacted by it.
Granting Coinbase a bank charter runs counter to longstanding federal law and practice and increases the risk of financial crisis.
The Consumer Financial Protection Bureau (CFPB) leadership, under Trump-appointee Russell Vought, has proposed a newlayoff plan as part of its year-long campaign to shutter the agency charged with preventing financial fraud, abuse, and discrimination. The plan would reduce agency staff by over two thirds and sharply curtail its efforts to enforce regulations that prevent financial lawbreakers from taking advantage of everyday people. While this layoff plan is currently blocked by the courts and cannot go into effect immediately, it provides crucial insight into how the CFPB under Acting Director Vought is seeking to rollback financial safeguards even as the financial markets are in turmoil and scams continue to proliferate.
