financial regulation Archives - Americans for Financial Reform

Blog: FIRM Act – Why It Should Worry You, And The “Debanking” Distraction

Recently, some of the most politically influential industries — fossil fuels, firearms, private prisons, crypto — have been crying foul about so-called debanking, accusing banks of unjustly denying them financial services because of supposed political biases. This is part of a larger misinformation campaign that is hijacking civil rights language to frame powerful industries as victims of discrimination and achieve their deregulatory goals.

News Release: AFR Statement on Approval of Capital One-Discover Merger

The Trump administration’s approval of the biggest, most complex bank merger in decades will raise credit card costs for working families, sap the earnings of small businesses, and undermine community investment.

Blog: The Project 2025 Capital Formation Trojan Horse Attack on Mom and Pop Investors

At a time when far-right forces are literally dismantling the government, including stripping away most agencies’ regulatory and oversight capacity, further deregulation of the financial system would be a dangerous mistake that would help advance the far-right’s democracy-grab. The House and Senate Republicans are advancing so-called capital formation legislation that purports to be about helping companies raise capital but are really about undermining investor protections and exposing small investors—read people’s retirement and life savings—to the riskiest parts of the financial system.

News Release: Suspension of CFPB Work Leaves Financial Companies Free to Rip People Off

The shutdown of all supervision and oversight by the Consumer Financial Protection Bureau will allow all manner of financial companies, from Wall Street megabanks to payday lenders to financial technology firms to credit bureaus to rip people off and mistreat their customers at will.

NEWS RELEASE: CFPB Proposal Empowers Consumers and Protects Sensitive Financial Data

Today, the Consumer Financial Protection Bureau (CFPB) finalized its Personal Financial Data Rights proposal, a long-overdue measure that can help create a more consumer-friendly and competitive financial services marketplace.

News Release: AFR Statements on House Majority’s Regulatory Rollback Plans

Americans for Financial Reform made the following comments on item marked up by the House Financial Services Committee yesterday, On the bills related to climate and financial regulation, On the bills related to fintech regulation, On the bills related to systemic risk

News Release: New SEC Private Fund Rules Can Help Stop Ripoff of Retirement Savers

Washington, D.C. – New investor protections announced today by the Securities and Exchange Commission (SEC) have the potential to curb widespread practices that have allowed Wall Street’s $25 trillion private fund industry to harvest tens of billions in fees at the expense of public pensions, retirees, and other savers – all to the advantage of some of the richest people in the world.

Congressional Testimony: Alexa Philo, AFR’s Senior Policy Analyst, Testifies Before the Senate Banking, Housing and Urban Affairs Subcommittee

AFR’s Senior Policy Analyst, Alexa Philo, testified Before the Senate Banking, Housing and Urban Affairs Subcommittee on economic policy.

News Release: New CFPB Guidance Defines Abusive Industry Conduct

Washington, D.C. — The Consumer Financial Protection Bureau (CFPB) today issued a policy statement on how it defines prohibited abusive conduct against consumers.

News Release: CFPB Proposed Rule will Bring Accountability for Financial Corporations

Washington, D.C. — The Consumer Financial Protection Bureau (CFPB) proposed rulemaking to require that regulated nonbank entities annually register with the CFPB regarding their use of specific terms and conditions in form contracts for consumer financial products and services, will reinforce the agency’s ongoing efforts to bring transparency and accountability on how financial industries operate, according to Americans for Financial Reform Education Fund and consumer coalition advocates.