Americans for Financial Reform

Statement: To the Senate Banking, Housing, and Urban Affairs Committee Hearing on “Consumer Protection: Protecting Workers’ Money and Fighting for the Dignity of Work”

Statement for the Record On Behalf of Americans For Financial Reform Before the Senate Banking, Housing, and Urban Affairs Committee Hearing on “Consumer Protection: Protecting Workers’ Money and Fighting for the Dignity of Work” Wednesday, December 11, 2024 Americans for Financial Reform Education Fund (AFREF) appreciates the opportunity

In the News: Trump’s Pick for SEC Chair Blamed the US for FTX Crypto Disaster (Bloomberg)

While the crypto industry is hoping for a more friendly regulatory environment, Mark Hays, associate director for cryptocurrency and financial technology at watchdog group Americans for Financial Reform, warned that there are risks from this.

In the News: Consumer watchdog faces daunting future under Trump (The Hill)

“Signs are mounting that the second Trump administration will try, like the first iteration, to undermine the Consumer Financial Protection Bureau’s mission and capacity to safeguard the rights and wallets of families throughout the United States,” Americans for Financial Reform said in a statement last week.

News Release: CFPB Proposes Rule to Stop Data Brokers From Selling Sensitive Data

Today, the Consumer Financial Protection Bureau (CFPB) proposed a rule to shield consumers from unscrupulous data brokers that sell sensitive personal and financial information, a vital step in both protecting online privacy and limiting fraud.

Letters to Congress: Letter Urging Senate Majority to Confirm Pending Nominees

Americans for Financial Reform and Public Citizen along with 50 organizations that advocate for racial, social, economic, and climate justice, wrote to urge Senate Majority Leader Schumer to confirm pending nominees for financial regulators and independent agencies like the National Labor Relations Board.

Blog: Holiday Wishes for Less Credit Card Gouging

We are now full-on into the mad rush of the busiest shopping season of the year and retail sales are expected to reach a record breaking $75 billion just from Black Friday through Cyber Monday. But can we really afford all of these purchases? Or are we being lured into an endless credit card debt trap that will take the rest of the year — or longer — to pay off the interest and fees and charges?

In the News: New Ticker (Politico)

Americans for Financial Reform has launched a tracker tallying the late fees that have been collected since 5th Circuit Court of Appeals stopped the Consumer Financial Protection Bureau’s limit on credit card late fees from taking effect.

Letters to Regulators: NCUA Budget for 2025-2026 Should Dedicate Funding to Support Climate Financial Risk Mitigation and Climate Resilience Opportunities for Credit Unions & Their Members

Americans for Financial Reform Education Fund led and submitted a letter to the National Credit Union Administration (NCUA) on the agency’s draft 2025-2026 budget. It urges NCUA to appropriately dedicate funding to support credit unions on climate-related financial risk mitigation, climate resilience, and providing safe, equitable

Statement: AFR Statement on Vital Role of Consumer Financial Protection Bureau

Signs are mounting that the second Trump administration will try, like the first iteration, to undermine the Consumer Financial Protection Bureau’s mission and capacity to safeguard the rights and wallets of families throughout the United States.

News Release: Live Counter Tallies Cost to Consumers as Big Banks Block Credit Card Late Fee Cap

A cap on junk fees could have saved consumers billions. Now, opposition from big Wall Street banks is costing consumers $317 each and every second.

Today, Americans for Financial Reform is launching the Wall Street Ripoff Counter that tallies the money consumers have lost since big banks managed to block a new consumer protection limiting credit card late fees in court.