“Cox compares the restrictions on bank M&A with the Herfindahl-Hirschman Index, first developed as a way to calculate concentration in the airline industry,” said Alex Philo, senior policy analyst at Americans for Financial Reform. “The Department of Justice allows this to go up to 2,500 in other sectors, says Cox, but for banks, the limit works out at 1,800, and an acquisition can cause a bank’s index to jump by 200 points.”
A 2022 research memo from Americans for Financial Reform, a nonpartisan nonprofit coalition, found that private equity firms are now landlords to at least 1.6 million families across the United States. This figure is likely an underestimate.
Americans for Financial Reform submitted a statement for the record to the House Financial Services Committee in response to the Committee’s June 13 hearing on digital assets, entitled, “The Future of Digital Assets: Providing Clarity for the Digital Asset Ecosystem.”
AFREF, the AFL-CIO, Communications Workers of America, the Interfaith Center on Corporate Responsibility, and Public Citizen submitted a comment letter in support of the SEC’s proposal to modernize beneficial ownership reporting in response to a new memorandum by the Division of Economic and Risk Analysis.
WASHINGTON, D.C. – The U.S. Treasury Department’s Federal Insurance Office (FIO) today released a report on climate-related regulation and supervision of insurers. The report assesses the limitations of existing regulation and includes 20 recommendations.
The Language Access Task Force of Americans for Financial Reform (AFR) submits the following comments in strong support of the Federal Housing Finance Agency (FHFA)’s Notice of Proposed Rulemaking on Fair Lending Oversight and Equitable Housing Finance.
The recommendation of requiring a minimum number of holdings to qualify as an ETF would also effectively make single-stock ETFs illegal, Park noted. “We decided that recommendation was going to be a distraction,” Park said. “Effectively, the genie is out of the bottle on this.” “There’s a difference between losing money because you made a bad trade and losing money because you didn’t know how the product worked,” Park said.
Americans for Financial Reform Education Fund submitted a comment letter endorsed by The Greenlining Institute and Public Citizen, in response to the National Credit Union Administration (NCUA)’s request for information on climate-related financial risk. The letter urges the NCUA to proceed with critical next steps
AFREF joined Public Citizen in responding to the Public Company Accounting Oversight Board’s request for comment on General Responsibilities of the Auditor in Conducting an Audit (AS 1000). We commended the PCAOB for proposing to extend an auditor’s evaluation of fairness in AS 2810 beyond
Washington, D.C. – The House Financial Services and General Government Appropriations Subcommittee approved yesterday a funding bill loaded with at least 51 dangerous policy riders that would roll back financial reform and undermine consumer, and investor protections.