While Elon Musk attacks federal agencies’ ability to protect us from the worst excesses of corporate power, a little known Musk initiative sailed through the Delaware legislature this week. Delaware’s corporate law drew Musk’s ire when its well-regarded Court of Chancery sided with Tesla shareholders and tossed out his $56 billion pay package.
AFREF submitted a comment to the California Air Resources Board (CARB) on its solicitation on implementation of SB253 and SB261, climate disclosure laws for large companies doing business in California. AFREF also joined a coalition comment led by California Environmental Voters.
Trump’s illegal termination of Rebecca Kelly Slaughter and Alvaro Bedoya, the two Democratic Commissioners at the Federal Trade Commission (FTC), violates a nearly century old Supreme Court precedent that prohibits the firing of FTC Commissioners over policy or political disagreements.
View or download a PDF of the letter here. Americans for Financial Reform, Consumer Federation of America, and Public Citizen led a letter in opposition to Delaware Senate Bill 21 (SB 21) with 29 additional signatories. If passed, SB 21 would overhaul Delaware corporate law
AFR published a policy memo outlining how climate change represents an imminent financial and economic threat, including statistics around increasingly costly disasters, rising uninsured losses, eroding real estate values, ballooning consumer debt, and food price inflation.
Taylor brings more than 30 years of experience fighting for economic and racial justice. She joins Lisa Donner in a new shared leadership structure aimed at enabling AFR to meet the challenge of the moment as billionaires wield unprecedented levels of power.
This week, Republicans in Congress introduced a resolution to undo a Consumer Financial Protection (CFPB) rule that prevents medical debt from capsizing people’s credit scores. More than 100 million people have medical debt and it shows up on the credit reports of 15 million people.
Consumer advocates decried the Senate Banking Committee’s passage today of a flawed bill – S. 919, the GENIUS Act – that would legitimize a risky class of crypto assets known as stablecoins and embed them more deeply into the banking system.
The Trump administration has joined a group of big banks in an effort to destroy a vital safeguard against credit card junk fees that would have saved consumers $10 billion per year. As documented by AFR’s Wall Street Ripoff Counter, every day this CFPB rule is not in place, credit card users lose $2.7 million. To date, the bank lawsuit and now the Trump administration actions have cost consumers over $8.3 billion.
AFR and 24 partners sent a letter to the Senate Banking Committee opposing the FIRM Act. The bill purports to curb banking discrimination and enable equal opportunity to obtain financial services. But it would do nothing to prevent actual discrimination or improve access to financial services for people in protected classes.