Last week, the Federal Reserve Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (the “banking regulators”) rescinded the Principles for Climate-Related Financial Risk Management for Large Financial Institutions.
Today, OMB Director Russell Vought unlawfully claimed he would eliminate the Consumer Financial Protection Bureau in its entirety within the next few months. The relentless assault on the CFPB gives a green light to big banks, payday lenders, Big Tech platforms, and predatory financial apps to profit by deceiving and gouging people.
The escalating crisis of home insurance availability and affordability, driven by climate change and extractive and unfair insurance industry practices, is undermining household financial stability especially for lower-credit score borrowers and people of color, according to a new report from Americans for Financial Reform Education Fund (AFREF) and Public Citizen.
Today, the Republican SEC Commissioners moved a cowardly measure that undermines the rights of investors by allowing SEC staff to approve company requests to force all shareholder cases into individual forced arbitration.
Today, the SEC postponed for a third time the deadline for large private funds, like hedge funds and private equity firms, to begin reporting information on how their funds contribute to systemic financial risk.
President Trump’s unlawful attempt to purge the Federal Reserve Board of anyone who disagrees with him is an abuse of power that threatens the foundation of our democracy, as have so many of his actions already.