AFR sent a letter to members of the House of Representatives urging them to vote in opposition to H.R. 4545, the so-called “Financial Institutions Examination Fairness and Reform Act.”
AFR sent a letter to members of the House of Representatives urging them to vote in opposition to H.R. 4263, the “Regulation A+ Improvement Act”.
AFR sent a letter to Senators urging them to vote against Senator Crapo’s substitute amendment to S.2155, which would increase systemic risk by deregulating large banks, expose home buyers to increased risk of predatory lending, and weaken protections against racial discrimination in credit markets.
The ability for states to enact laws governing how servicers may interact with borrowers, and the ability of state Attorneys General to file lawsuits against servicers for consumer abuses, are crucial accountability mechanisms that must continue. That the Department would attempt in any way to prevent these state level efforts to defend borrowers simply shows that under Betsy DeVos, it is servicers before students.
AFR opposes a radical legislation that would put unprecedented new limits on the powers of bank examiners.
AFR supports Sen. Brown’s amendment that would guarantee that enhanced prudential safeguards remain in place at the U.S. operations of foreign mega-banks.
AFR’s senior policy analyst Alexis Goldstein joined Democracy Now! to discuss the dangers of S. 2155, a bill the Senate is considering that would encourage discrimination in lending, roll back rules on large U.S. and giant foreign banks, and make further bailouts more likely.
“Congress ought to spend its time addressing the student loan crisis, cracking down on serial lawbreakers like Wells Fargo, and ensuring companies like Equifax pay a meaningful price for massive data breeches — not deregulating the financial services industry,” said Lisa Donner, executive director, Americans for Financial Reform. “Too many Senators seem willing to ignore the lessons of the financial crisis, and what happens when we let big banks write the rules of the economy. Millions of Americans know the costs all too well and will take notice of how members vote on passage of this harmful legislation.”
AFR sent a letter to the Senate opposing S 2155, a bill that would undermine financial protections established in the wake of the 2008 crisis. AFR Floor Opposition Letter to S 2155
“[The consumer provisions in the bill] are ‘tokens,’ said Americans for Financial Reform, a Washington, D.C.-based advocacy group pushing for greater financial reform, tacked on to provide cover to a bill that is mainly about financial sector ‘giveaways.'”