Americans for Financial Reform

Letters to Congress: Letter in Opposition to H.R. 2799, the Expanding Access to Capital Act

AFREF led a sign-on letter in opposition to H.R. 2799, the Expanding Access to Capital Act of 2024, along with the 10 undersigned organizations. Fundamentally, H.R. 2799 weakens regulation of both the public markets and the private markets, making it a bad deal for investors of all types, and a boon to issuers interested in raising capital with the lowest possible degree of disclosure, compliance, accountability, and overall economic inefficiency.

Event: Reparations: How to Fund Them & Avoid a Wall Street Takeover

Join us for a pivotal fireside chat on March 7, 2024, at 2:00 PM, on the pressing issue of reparations. “Reparations: How to Fund Them & Avoid a Wall Street Takeover” brings together thought leaders Jeremy Bearer-Friend (George Washington University Law), Alvin Velazquez (SEIU), and moderator Ericka Taylor (Take On Wall Street and Americans for Financial Reform) for an in-depth discussion on innovative funding strategies for reparations and safeguarding the initiative from financial industry exploitation.

News Release: SEC’s Final Climate Disclosure Rule Falls Far Short of What Investors Need

WASHINGTON, D.C. – The Securities and Exchange Commission’s (SEC) new investor-protection regulation on climate-related disclosure will provide a measure of new data but represents a significant – and disappointing – retreat from the agency’s strong 2022 proposal which garnered near-unanimous investor support.

News Release: Broad Coalition Of Advocacy Groups Urge Regulators To Block Capital One-Discover Deal In Joint Letter

WASHINGTON, DC — Capital One should not be allowed to buy Discover, 22 advocacy groups said Tuesday in a letter to banking regulators and antitrust officials.

Events: One Year Later: Lessons from the March 2023 Bank Failures (The Brookings Instution)

Alexa Philo, senior policy analyst, banking, systemic risk, and economic & racial justice at Americans for Financial Reform, participated in the second panel, titled “Resolving Failing Banks.” This panel explored the weaknesses exposed in the current approach to resolving failing banks and potential solutions.

News Release: Lower Late Fees Will Save Consumers $10 Billion

WASHINGTON, D.C. – The Consumer Financial Protection Bureau will prohibit excessive credit card late charges in a move that underscores its commitment to defend consumers from junk fees – and save them $10 billion in the process.

In The News: U.S. caps credit card late charges in new Biden crackdown on junk fees (The Washington Post)

“There are changes that fiddle at the edges of a problem and there are reforms like this one that will save consumers billions each year by slashing a particularly nasty kind of junk fee,” said Amanda N. Jackson, director of consumer campaigns at Americans for Financial Reform, which has advocated for stronger federal financial regulation.

Letters to Regulators: IOSCO Should Explicitly Acknowledge That Environmental and Social Integrity Are Critical Components of the Market Integrity of Carbon Credits

Americans for Financial Reform Education Fund (AFREF) submitted a comment letter on The Board of the International Organization of Securities Commissions (IOSCO)’s Consultation Report outlining a proposed set of Good Practices to promote the integrity and orderly functioning of Voluntary Carbon Markets (VCMs). IOSCO has

In The News: Commentary: Crisis at Steward Health highlights private equity’s threat to healthcare (The Dorchester Reporter)

“Steward is a prime example of private equity’s business model of extracting short-term profits from entities before selling them off,” said Robert Seifert, senior fellow at Americans for Financial Reform. “In the case of health care, this can leave critical service providers worse off financially, with more money going to Wall Street and less toward long-term viability, hospital staffing, and patient care,” he added.

Letters to the Regulators: Letter Urging The SEC to Repropose the Stock Buybacks Disclosure Rule

Americans for Financial Reform Education Fund (AFREF) led a letter with 13 additional signatories urging the SEC to repropose the stock buybacks disclosure rule to provide investors with information about this widespread yet opaque practice. This important rule was struck down by the Fifth Circuit Court of Appeals following a challenge by the Chamber of Commerce.