Americans for Financial Reform

AFR Statement: Department of Education’s Proposed New Borrower Defense Rule Sacrifices Students to For-Profit Industry Greed

“The proposed Borrower Defense rule sacrifices students’ rights in order to line the pockets of executives at for-profit colleges, an industry that has shown time and again that it will use taxpayer dollars to deceive and defraud its own students.” said Alexis Goldstein, AFR’s Senior Policy Analyst. “With this rule and its extreme and absurd barriers to relief, Devos effectively tells students that if a school scams them, they’re on their own.”

Letters to Congress: AFR and three other organizations sent a joint letter to Congress urging opposition to HR 5059, the State Insurance Regulation Preservation Act.

On July 24, 2018, Americans for Financial Reform, the Center for Economic Justice, the Consumer Federation of America, and U.S. PIRG, sent a joint letter to members of the House Committee on Financial Services urging them to vote in opposition to HR 5059, the “State

Letters to Congress: Eleven organizations, including AFR, sent a joint letter to Congress urging opposition to H.R. 2570, the so-called Mortgage Fairness Act.

Americans for Financial Reform and ten other organizations sent a joint letter to members of the House Committee on Financial Services urging them to reject H.R. 2570, the Mortgage Fairness Act of 2017.

AFR Statement: Eight Years of Dodd-Frank, Ten Years After 2008 Financial Crisis

Nearly a decade after the crisis broke, we need the public interest, not Wall Street’s narrow pursuit of maximum benefits for a tiny few to guide financial policy. But Wall Street’s money is an enormously powerful force pushing the other way.

AFR Conference: Regulating Wall Street – Ten Years Later

Ten Years after the 2008 Financial Crisis, Where Do We Stand? A conference with Sens. Sherrod Brown and Elizabeth Warren and regulators who helped respond.

AFR Statement: Kavanaugh and Anniversary of Wall Street Reform

Brett Kavanaugh’s ruling, later overturned by the full DC circuit, that an independant CFPB is unconstitutional, is but one powerful indicator of the danger he would pose as a Supreme Court justice. Stripping financial regulators like CFPB of their independence means weaker consumer protections.

AFR Statement: Hearing Shows Kraninger is No Champion of Consumers

There was no evidence before her confirmation hearing that Kathy Kraninger would champion the interests of consumers, and there’s no evidence of it afterwards either.

Congressional Testimony: AFR Policy Director Marcus Stanley testifies to House Financial Services Committee.

On July 17, 2018, AFR Policy Director Marcus Stanley offered testimony at a hearing entitled “Examining Capital Regimes for Financial Institutions,” before the Financial Institutions and Consumer Credit Subcommittee of the House Financial Services Committee.

Letters to Congress: AFR and the AFL-CIO sent a letter to Congress recommending a vote in opposition to S. 488, the JOBS and Investor Confidence Act of 2018.

On July 17, 2018, Americans for Financial Reform and the AFL-CIO sent a letter to Congress recommending a vote in opposition to S. 488 (the “JOBS and Investor Confidence Act of 2018”), which was being considered on the House floor under suspension of the rules.

Letters to Regulators: AFR commented on Federal Reserve, OCC, FDIC proposed rule regarding the implementation of CECL accounting rules.

Americans for Financial Reform sent a letter to the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation commenting on a proposal to phase-in the regulatory capital effects of implementing the new