With new leadership taking the helm of the Federal Deposit Insurance Corporation (FDIC), Americans for Financial Reform and more than a dozen other consumer and civil rights organizations have joined in calling for the FDIC to “stop permitting its supervised institutions to front for predatory lenders evading state interest rate limits.
AFR joined a letter to Congress encouraging the Senate to swiftly discharge and confirm the four highly qualified nominees for positions at the U.S. Department of Housing and Urban Development (HUD).
AFR joined a letter urging Congress to immediately bring House Resolution (H.R.) 40, the Commission to Study and Develop Reparation Proposals for African-Americans Act, to a full vote on the House floor.
AFREF joined a letter opposing the online lender Figure Bank’s application for a charter.
In a letter addressed to Senator Sherrod Brown (D-Ohio), Chairman of the Senate Banking Committee, a coalition of 97 unions, civil rights, financial, and environmental groups declared their support for Dr. Lisa Cook, Dr. Philip Jefferson, and Sarah Bloom Raskin, all nominated by President Joe Biden to serve on the Federal Reserve’s Board of Governors.
AFR sent a letter to Congress supporting Chairman Sherman’s amendments to H.R. 4521, the America COMPETES Act.
AFR and Public Citizen led a letter to Congress in strong support of the nominations of Lisa Cook, Sarah
Bloom Raskin, and Philip Jefferson to the Federal Reserve Board of Governors.
AFR joined a letter urging Congress to include strong investments in housing in any future budget reconciliation bill.
In response to news yesterday that the Meta (Facebook) backed Diem Association has been sold to California bank Silvergate, a financial institution friendly to crypto finance projects, Demand Progress Education Fund and the Americans for Financial Reform Education Fund released the following statement.
Wall Street’s private equity barons smashed previous records to complete $1.2 trillion worth of acquisitions in the United States in 2021, an all-time record. Globally, the industry gobbled up companies worth $2.1 trillion. The new acquisitions and the massive debts the industry generates is creating the risk of “the dotcom boom meeting with the financial crisis,” according to one insider.