The Environmental Protection Agency (EPA) announced its final program of the Greenhouse Gas Reduction Fund (GGRF): Solar for All. Sixty recipients will be awarded $7 billion, with funds expected to roll out late this summer. Solar for All will create new or expand existing low-income residential and community solar programs in all 50 states, the District of Columbia, Puerto Rico, and territories, and open up greater access to solar for Tribes through grants and low-cost financing.
The House Financial Services Committee voted to overturn a regulation capping credit card late fees, putting a majority of its members squarely on the side of big banks that have ripped off consumers for years. The new rule, finalized by the Consumer Financial Protection Bureau on March 5, would reduce the typical late fee on credit cards from $35 to $8, saving consumers $10 billion each year. For the 45 million households that pay late fees, that amounts to an annual savings of $220.
Americans for Financial Reform made the following comments on item marked up by the House Financial Services Committee yesterday, On the bills related to climate and financial regulation, On the bills related to fintech regulation, On the bills related to systemic risk
WASHINGTON, D.C. – Today, 142 consumer, civil rights, military, legal services, and community groups submitted comments in strong support of the Consumer Financial Protection Bureau’s (CFPB) proposed rule governing the overdraft lending practices of the largest financial institutions. [The National Consumer Law Center also submitted a longer, more detailed set of comments, which will be available here.]
WASHINGTON, D.C. – A coalition of 30 community, consumer, civil rights, and public interest groups has called on federal bank and antitrust regulators to follow several critical procedural safeguards that will help ensure proper review of the proposed takeover of Discover by Capital One. The coalition includes Americans for Financial Reform, the National Community Reinvestment Coalition, the American Economic Liberties Project and Public Citizen.
WASHINGTON, D.C. – The Securities and Exchange Commission’s (SEC) new investor-protection regulation on climate-related disclosure will provide a measure of new data but represents a significant – and disappointing – retreat from the agency’s strong 2022 proposal which garnered near-unanimous investor support.
