Tag Archives: Congress

Statement for the Record: Cheering the 15-Year Track Record of Dodd-Frank Act

AFR submitted a statement for the record for the House hearing on the 15-year record of the Dodd-Frank Act, which Congress passed to reduce the likelihood and severity of future financial crises and to protect people from financial predation and it has made a difference. Congress and financial regulators should be building on the pieces it put in place, not rolling them back.

News Release: Big, Brutal Bill Advances in House

The House majority has just chosen to prioritize Wall Street and billionaires over everyday people by advancing legislation that would strip away funds for healthcare and nutrition to give big corporations and the super-rich tax breaks. Adding insult to injury, they also voted to make people’s lives harder and less secure by giving Wall Street, big banks, and abusive financial companies free rein to fleece the rest of us.

News Release: Deeply Flawed Stablecoin Legislation Moves Forward in Senate

The Senate voted to advance the GENIUS Act (S. 1582) for a full Senate vote, despite clear evidence that this legislation makes investors and consumers less financially secure, threatens to destabilize our financial system, and would legitimize Trump’s crypto grifts. Trump corruption led Democrats to oppose the legislation on May 8, but the bill has not meaningfully changed. And since then, more details have emerged about his family’s business.

News Release: Congress Must Reject Big, Brutal Bill Full of Corporate Giveaways

This week brought the big, brutal budget reconciliation bill into sharper focus as the Congressional Majority advanced tax cuts for the super-rich paid for by and severe cuts to healthcare and nutrition assistance through key committees. The combination of tax giveaways to those who need it least and benefit cuts slashing support for basic human needs t are a recipe for catastrophe for most of the country.

Fact Sheet: Timeline of the 100-Day Trump, Musk, and Congressional Attack on the CFPB

In its first 100 days, the Trump administration moved aggressively to dismantle the Consumer Financial Protection Bureau (CFPB), leaving the public vulnerable to predation by Wall Street, Big Tech, and predatory lenders, and satisfying the financial industry’s desire to operate without oversight. Elon Musk declared war on the CFPB, and the Republican-majority in Congress has largely aligned with the administration’s efforts to tear apart the CFPB.

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News Release: House Committee Aims to Gut Key Financial Regulators

Proposals from the House Financial Services Committee majority for budget reconciliation would defund and dramatically erode the effectiveness of key financial regulators under the pretense of generating budgetary savings as part of the House majority’s broader plan to pay for tax cuts for the very richest families, biggest business, and Wall Street firms. The real intention is to dismantle the Consumer Financial Protection Bureau (CFPB) and the other agencies designed to reduce the likelihood and severity of future financial crises.