AFREF joined the National Fair Housing Alliance and local, state, and national organizations to submit comments in response to HUD’s “Request for Information Regarding Small Mortgage Lending.” Our comments focus on the importance of residential small-dollar lending (SDL), which is essential to building wealth and family opportunity for communities of color and low- and moderate-income families throughout the nation. For too long, homes in lower-priced markets have been starved of quality, sustainable, mortgage credit, both subject to and contributing to a history of residential segregation, neighborhood disinvestment, and lost wealth-building opportunity. This comment letter makes a number of suggestions to the FHA regarding how it can better promote small mortgage loans.
A new poll released today shows voters across the political spectrum overwhelmingly back the mission of the Consumer Financial Protection Bureau (CFPB), financial regulation generally and a variety of new, specific consumer protections. The findings are released as the Supreme Court is poised to consider a lawsuit from payday lenders that could invalidate the CFPB’s funding mechanism, which would undermine its effectiveness.
FOR IMMEDIATE RELEASE December 2, 2022 CONTACT Carter Dougherty firstname.lastname@example.org (202) 251-6700 Fed Takes Critical First Step in Managing Banks’ Climate Risk WASHINGTON, D.C. — The Federal Reserve today proposed climate-related supervisory guidance for major banks that represents an important and long overdue step to
Letters to Regulators: The Inflation Reduction Act Bolsters the Case for SEC’s Climate Disclosure Rule
AFREF submitted a supplemental comment to Securities and Exchange Commission (SEC) highlighting market reactions to the passage of the Inflation Reduction Act (IRA). December 1, 2022 Dear Ms. Countryman: This letter is a supplement to prior comments submitted by Americans for Financial Reform Education Fund
AFREF led a letter calling on the U.S. Chamber of Commerce and the banking associations to drop the lawsuit against the CFPB that would allow them to discriminate against similarly situated BIPOC communities. The lawsuit focuses on the Bureau’s warning that the federal prohibition on unfair practices covers discrimination, and that the Bureau will be using its examination authority to look for and address unlawful discrimination in financial services, including in areas outside of lending, The CFPB was well within its authority to take these actions. Discrimination is unfair and unlawful, and it should have no place in our financial system.
For over a decade, AFR has supported the work of the CFPB, which has brought significant reforms and millions of dollars for consumers across the country. We also mobilized against the agency’s lousy leadership under the previous administration. Now, we are defending the CFPB after a recent right-wing court attacked its funding mechanism.
Today, the Senate will hold a hearing on the proposed acquisition of grocery chain Albertsons by Kroger, the nation’s largest standalone grocery retailer. Sens. Amy Klobuchar (D-Minnesota) and Mike Lee (R-Utah), both skeptics of the merger, will preside over the hearing.
News Release: Department of Labor to Allow Retirement Plans to Consider Sustainability, Jobs, Equity, and Worker Rights
WASHINGTON, D.C. — The U.S. Department of Labor’s final rule takes an important step to safeguard the savings of millions of workers who participate in private-sector employee benefit plans by allowing workers’ private retirement plans and pensions to consider sustainability factors like climate change, workers’ rights, racial, economic and environmental justice, and corporate governance when investing and voting proxies.
Today, the Department of Labor (DOL) helped safeguard the savings of millions of workers who participate in private-sector employee benefit plans by finalizing a rule related to the consideration of environmental, social, and governance (ESG) factors.
AFREF joined a letter calling on President Biden to extend the payment pause on student loans.