The nation’s megabanks are enjoying record profits. But they still aren’t sharing that wealth with their frontline workers. We know they can afford it: they got a $28 billion tax break from the Trump tax law, and they’re paying it to themselves and wealthy shareholders.
Unfortunately, while we believe it would be possible to adopt standards that meet investors’ reasonable expectations under the Commission’s chosen regulatory approach, the regulatory package as currently drafted does not achieve that goal.
On April 18, 2019, AFR’s Language Access Task Force and several organizations sent a letter to the Federal Housing Finance Agency in support of its efforts to improve language access for Limited English Proficient borrowers. View or download a pdf copy of the letter.
Wall Street private equity funds are continuing to snap up homes to pad their expanding portfolio of rental properties. Institutional investors own nearly a quarter million single-family rental homes. Wall Street landlords often hike rents, avoid repairs, gouge tenants with fees, and are more likely to evict tenants.
Americans for Financial Reform wrote to the California State Assembly in support of AB 376, the Student Borrower Bill of Rights. AB 376 would make California the first state in the nation to create a comprehensive set of rights for people holding student debt, by requiring student loan companies to treat borrowers fairly and giving borrowers the right to hold these companies accountable when they fail to meet basic servicing standards.
Big banks have lobbied for and won massive tax breaks and increased deregulation at a time when they are already making record profits. Ordinary Americans are getting a less safe financial system, and one that is an ever-more-powerful driver of inequality and economic vulnerability. Wall Street CEOs need to be held accountable for abuses by the institutions they run, and the dangerous policies they are pushing, both openly and quietly
Over the past two years, we’ve seen a lot of handouts to Wall Street but very little change for the better. Big banks got a massive tax cut and deregulation legislation right at the time they were making record profits. Ordinary Americans got a financial system that is less safe than it used to be, one that is an ever-more-powerful driver of inequality and economic vulnerability.
ARFEF joined a letter to the CFPB requesting it open its consumer complaint procedure to accept complaints about Property Assessed Clean Energy (PACE) loans.
If you want to know how to run a company better, ask employees. But America’s corporate boards aren’t asking. The Reward Work Act requires that public companies allow one-third of their board to be elected by workers, to make for healthier decision-making.
Americans for Financial Reform joined 56 other organizations to express strong support for the PROTECT Students Act. This legislation would enact important protections for students and taxpayers
against predatory colleges that cheat students and leave them with large debts they cannot afford.
It also includes a far-reaching set of reforms to hold predatory colleges accountable
to both students and taxpayers.