AFREF submitted a letter to the Treasury today raising concerns that the President’s Working Group is considering recommending Congress create special bank charters to regulate stablecoins. We instead believe the President’s Working Group should clarify the existing authorities that each of the regulatory agencies have and call on those agencies to exercise their authorities now. We find this especially pertinent given the recent enforcement action brought Friday by the CFTC against Tether.
Fact Sheet: Stop Private Equity from Driving Retailers into Bankruptcy, Destroying Jobs and Livelihoods
Private equity has had a disastrous impact on the retail industry, driving dozens of firms into bankruptcy, shutting down tens of thousands of stores, and costing hundreds of thousands of jobs nationwide.
AFR joined a letter to CFPB Director Chopra requesting that the Bureau address the significant problem of hidden remittance fees allowed under the current CFPB regulations.
Private equity firms have bought up thousands of nursing homes across the country, lowering the quality of care and harming residents.
By creating accountability for the Wall Street tycoons who lead private equity takeovers and reversing the policies that enable wealth extraction, this set of policies can protect workers, families, and communities.
Private equity firms have driven much of the rise in surprise billing that threatens the financial stability of vulnerable patients as well as families’ health and peace of mind.
Public Citizen, Sierra Club, 350.org, Americans for Financial Reform, Evergreen Action, and Action Center on Race and the Economy today delivered more than 40,000 petition signatures to U.S. Treasury Secretary Janet Yellen demanding that an upcoming report highlight the gravity of climate threats to our financial system and identify concrete steps that financial regulators should take to address them.
Fact Sheet: Close the carried interest loophole that is a tax dodge for super-rich private equity executives
The carried interest tax loophole is an income tax avoidance scheme that allows private equity and hedge fund executives — some of the richest people in the world — to substantially lower the amount they pay in taxes, exacerbating income and wealth inequalities.
Letters to Regulators: Letter to CFPB Director Rohit Chopra on the Need for Pre-Foreclosure Protections in 2022
AFREF joined a letter to CFPB Director Rohit Chopra urging for pre-foreclosure protections in 2022 due to the on-going Covid-19 pandemic.
Public Citizen and Americans for Financial Reform (AFR) released detailed policy recommendations today to the U.S. Department of the Treasury for its forthcoming report on climate-related financial risk.