The Department of Labor (DOL) proposed a dangerous rule that would steer workers’ retirement savings into risky, opaque, high-fee private equity and crypto investments that would undermine their retirement security. The private equity industry is eager to dump overvalued assets onto retirement savers as well-heeled investors snub these dubious assets and head for the exits. Opening 401(k)s to these products risks turning workers’ retirement savings into a Ponzi-like scheme that throws a lifeline to an industry scrambling for fresh cash.
The Trump administration announced that it will weaken one of the most important post 2008 financial crisis tools designed to stop shadow banks from capsizing the financial system.
The new bank capital proposals by the federal bank regulatory agencies is a dangerous step in the wrong direction.
In response to the insurance industry’s continued practice of underwriting fossil fuels while making record profits and pushing up prices for homeowners, the Connecticut General Assembly passed out of committee S.B. 453, An Act Concerning A Climate Change Related Surcharge on Certain Insurance Policies, which would force insurance companies to pay for climate resilience.
For over a decade, people have had a dedicated financial watchdog in their corner: the Consumer Financial Protection Bureau. So, it is no surprise that the Trump Administration moved quickly to shut it down in the early days of last year. That’s why Americans for Financial Reform and a broad-based coalition of consumer protection, civil rights, labor, community, and faith-based organizations across the country have been fighting day in and day out to put the CFPB back to work protecting people and their finances.
Today a coalition of 81 national and state civil rights, community, consumer protection, and other advocacy organizations, called on Congress to affirm the dedicated funding and the single independent director structure of the Consumer Financial Protection Bureau (CFPB).
