Americans for Financial Reform

Joint Letter: Nominate Progressive Candidates to Financial Regulators

The need for strong public interest nominees is even greater today. This Administration has been
filling key regulatory positions with people pursuing Wall Street’s agenda at the public’s expense,
and the revolving door is spinning faster than ever. There is an enormous amount at stake at both
the SEC and FDIC as the financial industry and their friends in the Trump administration work to
undo the progress made in Dodd-Frank and to undermine key investor protection standards.

AFR Statement: S. 2155 Ignores Lessons of Financial Crisis, Flouts Will of Voters

This legislation ignores the lessons of the financial crisis that cost so many Americans their jobs and homes, and pays no heed to the overwhelming majority of voters who correctly understand the need for tougher, not weaker, oversight of the financial services industry.

Letters to Regulators: AFR opposed roll back of transparency disclosures to investors in SEC proposed rule “Investment Company Liquidity Disclosures.”

AFR commented on the roll back of transparency disclosures to investors in the SEC proposed rule “Investment Company Liquidity Disclosures.”

Letters to Congress: AFR urges opposition to two bills in House Committee on Financial Services markup.

AFR sent a letter to members of the House Committee on Financial Services urging them to oppose two bills in today’s markup.

Take On Wall Street Poll: Messaging the Financial Transaction Tax

A new nationwide survey of likely 2018 voters in key battleground congressional districts reveals overwhelming, broad-based, and intense support for curbing big banks’ influence in Washington, including solid backing for a Financial Transaction Tax, especially if it’s referred to as a “sales tax”.

Letters to Congress: AFR Urges House Members to Oppose S. 2155 in Order to Preserve Financial Protections.

AFR sent a letter to members of the House of Representatives urging them to vote in opposition to the Bank Lobbyist Act.

AFR Statement: Statement on Appointment of Andrew Smith as Head of FTC Bureau of Consumer Protection

For its Head of Consumer Protection, the FTC chose a lawyer, Andrew Smith, who worked for both payday lenders and Equifax. The FTC needs a someone with a record of consumer protection, not yet another industry lawyer

AFR Statement: Statement on Passing of Deadline to Roll Back CFPB Payday Rule

“Congress has done the right thing in allowing the rule to stand. Now the spotlight is on Mick Mulvaney. Will he move ahead on his plans to unravel it, and continue to cater to the payday lenders who gave generously to his campaigns?” said Lisa Donner, executive director at AFR.

Joint Letter: 8 Organizations Warn Regulators Against Bank Payday Loans and Rent-a-Bank Arrangements

“Deposit advance” loans are payday loans, pure and simple, and data clearly show they create the same debt trap caused by non-bank payday loans. High-cost longer-term loans facilitated by banks and credit unions would also cause customers substantial harm. We also urge you to ensure that all financial institutions engaged in small dollar lending (1) limit interest rates to 36% or less, and (2) determine borrowers’ ability to repay their loans by assessing both income and expenses rather than engaging in collateral-based income-only underwriting.”

TOWS/AFR Statement: New Poll Reveals Strong Public Support to Stop Lending Discrimination

A new poll reveals overwhelming public support for government action to stop lenders from discriminating against borrowers of color. Lawmakers who voted to roll back the Consumer Financial Protection Bureau’s effort to guard against discrimination in auto lending were steering against the will of their own voters.