AFR joined a letter to Congress in support of the provision in Build Back Better that limits the Pell grant increase to students attending public and non-profit colleges, excluding for-profit schools.
Americans for Financial Reform supports the introduction of the Veterans and Consumers Fair Credit Act of 2021. This legislation would extend the 36 percent APR cap on payday and car-title loans in the Military Lending Act (MLA) to cover all borrowers.
AFR joined a letter to Congress supporting Senator Blumenthal’s amendment to the National Defense Authorization Act (NDAA), to ban forced arbitration for service members suffering financial and employment abuse.
A new Government Accountability Office report confirms several conclusions in AFR’s initial analysis of the Opportunity Zones program.
AFREF sent a letter to the Treasury’s Federal Insurance Office (FIO) on how the agency can coordinate with state insurance regulators and insurers to have the necessary data, supervisory framework, and prudential regulation in a world where climate-related losses continue to rise and pose risks to the entire financial system.
The Sierra Club, Americans for Financial Reform Education Fund, and Public Citizen released an analysis of the Financial Stability Oversight Council (FSOC) report on climate-related financial risk. The analysis outlines the report’s disappointing lack of urgency and details the missed opportunities to chart a comprehensive course
AFR sent a letter to Congress in support of H.R. 2620, the Investor Choice Act of 2021.
Stock buybacks exacerbate the racial wealth gap, worsen economic inequality, and divert resources from the real economy which harms workers. Taxing buybacks would raise revenue and discourage companies from putting highly-paid executives ahead of the broader economy.
AFR’s Senior Policy Analyst Renita Marcellin hosted a conversation with Professor Art Wilmarth, author of Taming the Megabanks: Why We Need a New Glass-Steagall Act. Professor Wilmarth discussed why structural protections, such as a modern Glass-Steagall Act and the separation between banking and commerce, are necessary in the banking system. They also examined how the erasure of these laws have led to many of the challenges we are currently facing in the financial system including ILCs/special purpose charters, the rise of Fintech firms, and stablecoins and highlighted the urgency of revisiting laws on structural separations in the banking system.
AFR joined a letter to Congress in support of three crucial provisions of the Build Back Better Act that would strengthen the FTC’s hand against discriminatory and abusive data practices and the businesses that engage in them.