AFR joined a joint coalition made up of consumer advocates and bank trade groups on this letter to Congress to express our support of the Close the Shadow Banking Loophole Act recently introduced by Senators Brown, Casey, and Van Hollen. This bill will close the Industrial Loan Company charter loophole that allows Big Tech and other large commercial firms from owning a bank without adequate oversight.
The Department of Justice upheld the rule of law in its recently published opinion on the ability of the chair of the Federal Deposit Insurance Corporation to block votes sought by the majority of its board.
Ford Motor Company should be denied deposit insurance for its proposed new Ford Credit industrial loan company (ILC) charter, the National Community Reinvestment Coalition (NCRC), the National Consumer Law Center (on behalf of its low-income clients), Americans for Financial Reform Education Fund, and the Center for Responsible Lending wrote to the Federal Deposit Insurance Corporation (FDIC) on Wednesday.
Americans for Financial Reform Education Fund (AFREF) and partners submitted comments to the Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, and Federal Deposit Insurance Corporation on their proposed revision to the regulations that implement the Community Reinvestment
WASHINGTON – Today a coalition of consumer advocates filed comments with the Federal Deposit Insurance Corporation (FDIC), including a petition signed by more than 44,500 people and a letter describing hundreds of consumer complaints, urging the FDIC to consider Transportation Alliance Bank’s (TAB Bank) predatory rent-a-bank lending in assessing the bank’s performance in meeting community needs under the Community Reinvestment Act.
AFREF submitted two comments to the Federal Deposit Insurance Corporation in response to their request for comment on “Statement of Principles for Climate- Related Financial Risk Management for Large Financial Institutions.” The first comment was a joint letter signed by 13 partners regarding the fair
Washington, D.C. — A broad coalition of bank and credit union associations and consumer organizations submitted a letter today to the U.S. House Committee on Financial Services urging passage of the Close the ILC Loophole Act, introduced by Representatives Chuy Garcia (D-IL) and Lance Gooden (R-TX).
AFREF and 14 allies sent a letter urging the FDIC to stop permitting its supervised institutions to front for predatory lenders evading state interest rate limits.
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 President Biden expressing support for the majority on the FDIC board, and calling on President Biden to remove the chair if she continues to attempt to thwart majority action.