Americans for Financial Reform today applauded the introduction of the Veterans and Consumers Fair Credit Act of 2021, legislation that would extend the 36 percent APR interest rate cap on payday and car-title lenders in the Military Lending Act (MLA) to cover all Americans.
AFR sent a letter to Congress in support of H.R. 3332, H.R. 4618, H.R. 4619 and H.R. 4620, and in opposition to H.R. 935.
The creation of the CFPB was a crucial, hard-won victory for the thousands of advocates, activists, allied organizations, and community leaders in AFR’s coalition. On Monday, July 19, these groups and individuals gathered virtually to commemorate the 10th anniversary of the CFPB and celebrate the bureau’s leadership in fighting for a just financial system.
View or download a PDF of the full report here. Open Gate Capital The Private Equity Stakeholder Project Americans for Financial Reform Education Fund In 2017, OpenGate Capital, a Los Angeles-based private equity firm bought HUFCOR, which manufactures portable room partitions for hotels and
AFR joined a letter to the House of Representatives in support of the Consumer Protection and Recovery Act. The bill would restore the Federal Trade Commission’s authority to provide refunds and equitable relief to victims of consumer fraud and deception, and to stop ongoing misconduct in the marketplace.
On Thursday, July 15, Linda Jun, senior counsel at Americans for Financial Reform Education Fund, spoke on a panel about the harms of bank overdraft fees and alternatives to the current system. She was joined by other consumer advocates and representatives from banks and financial technology firms that are creating alternatives to bank overdraft fees. The panel focused on new tools and technologies designed to help consumers avoid overdraft fees while maintaining flexible banking options.
AFREF and MHAction submitted joint comments on Fannie Mae and Freddie Mac’s duty to serve plans and urged the Enterprises to better protect manufactured housing residents from corporate abuses and increase financing opportunities for mission driven owners.
The Securities and Exchange Commission should use the full scope of its authority to increase transparency and reduce hidden risks to investors and markets from the private equity industry, according to a letter from 15 public interest groups.
AFREF alongside 14 other signers submitted a letter to the Securities and Exchange Commission (SEC) raising several abuses from the private equity industry and ways the Commission can directly address them