When a financial institution fails, only insured depositors should be rescued by the government. Bailouts for other parties, such as shareholders and bond holders, are an unacceptable use of the public treasury to rescue private risk-takers, functioning as little more than wealth transfers from poor
The National Association of Consumer Advocates (NACA) explains why auto dealers must be covered by the Consumer Financial Protection Agency (CFPA). Download this information as a PDF. While the vehicles themselves have never been better, predatory auto sales and financing practices have never been worse.
Press Release CONTACT: Doug Gordon, (202) 822-5200 x237 LEADING FINANCIAL REFORM COALITION POSES QUESTIONS FOR FED CHIEF BERNANKE Continued Bank Control of Regional Fed Banks Comes Under Fire Will “Too Big to Fail” Taxpayer Bailouts of Reckless Big Banks Remain Policy? Americans for Financial Reform
They bring signs, banners, leaflets, and stories of foreclosures and unemployment. Individually, they’re mothers, fathers, retirees, hard workers who are in between jobs. Together, they’re a force to be reckoned with, as local AIG and Goldman Sachs offices recently discovered. They’re the consumers organized by
BanksterUSA.org has made the clever video below using everyone’s favorite holiday movie, “It’s a Wonderful Life,” to remind us of the woes facing many families this holiday season. In the midst of so much foreclosure, debt, and job loss, whose side are your representatives in
Unregulated derivatives trading were a major cause of the economic crisis and loss of homes, jobs and retirement savings. Inadequate regulation of derivatives was also a major contributor to last years energy price bubble. The volume of derivatives trading is enormous. According to the International
Host Tom Dziubek spoke with Heather Booth, Executive Director of Americans for Financial Reform. Americans for Financial Reform is a coalition of over two hundred national, state and local consumer, labor, retiree, investor, community and civil rights organizations. Tom and Heather discussed current and future
The Center for Responsible Lending warned consumers this Black Friday to watch out for overdraft loans. Every day, consumers lose $65 in overdraft fees to banks. As CRL explains: At $24 billion per year in fees, unfair overdraft practices transfer funds from the accounts of
The New Republic published this article detailing how Members of Congress have shifted their thinking on derivatives – and for once, the shift benefits Main Street rather than Wall Street. The article cites pressure from Americans for Financial Reform as one of the reasons for
Dana Milbank of the Washington Post published this column today, pointing out how much the nation’s bankers have to be thankful for as they sit down for Thanksgiving turkeys tomorrow. Here’s an excerpt: At this time last year, the American financial system was near collapse,