Washington, D.C. – More than 100 consumer protection, civil rights and organized labor organizations filed a comment asking the Consumer Financial Protection Bureau (CFPB) to create a rule to restore the right of all Americans to decide to file a case in court rather than be forced into arbitration by big banks and other financial services corporations.
View or download a PDF of the letter here. In advance of the Senate and House hearings on the oversight of prudential regulators this week, AFR filed a statement for the record advocating for the Fed, the OCC and the FDIC to finalize key rulemakings,
On November 7th, AFR’s Advocacy and Legislative Director Renita Marcellin testified before the House Financial Services Subcommittee on Financial Institutions and Monetary Policy supporting the Basel Endgame capital proposals. These capital proposals work to build a more resilient financial system and enable banks to better support the
“Banks make it very hard for consumers to choose where they want to go if they’re not happy with services,” Elyse Hicks, a lawyer specializing in consumer policy at the nonprofit consumer advocacy group Americans for Financial Reform, told The Lever and The American Prospect.
AFR wrote in opposition to the premise of the House Ways and Means Committee hearing titled “Ensuring what ‘Woke’ Doesn’t Leave Americans Broke: Protecting Seniors and Savers from ESG Activism.” This hearing is part of a much broader, unpopular campaign against common sense investment practices that seeks to force financial actors to ignore a slew of financial risks to the detriment of workers’ retirement security.
View or download a PDF of the letter here. AFR and over 30 organizations wrote to House leadership in opposition to eight anti-ESG bills that were marked up by the House Financial Services Committee and the House Committee on Education and the Workforce. These bills are part
Washington, D.C. – Americans for Financial Reform Education Fund and 21 allied organizations submitted a letter urging the Centers for Medicare and Medicaid Services (CMS) to pass the strongest possible rule mandating minimum staffing standards for long-term care facilities (CMS–3442–P). The letter also highlights the role of private equity firms, which own 11% of US nursing homes, and their particularly harmful business practices, like understaffing, that detract from resident care.
Washington, D.C. – House Republicans are moving forward with a funding bill (H.R. 4664) that would undermine much-needed consumer protections, roll back hard-fought reforms of Wall Street, and hamper our country’s ability to address the financial risks from climate change.
Federal agencies should move swiftly to identify systemically important financial institutions (SIFIs) for heightened scrutiny now that they have finalized a process for this designation process, according to Americans for Financial Reform Education Fund.
Treasury’s Federal Insurance Office (FIO) took an important initial step this week toward understanding how climate change is affecting homeowners insurers’ coverage and pricing decisions for consumers. Disappointingly, the notice of data collection was scaled back from earlier proposals, omitting queries critical to fully understanding the nature of the ongoing insurance crisis.