Washington, D.C.— The Securities and Exchange Commission’s proposal to prohibit conflicts of interest in securitizations, though a long time coming, will finally address the problem of Wall Street arranging bets in which financial institutions effectively rip off their own clients.
Today, 29 groups called on federal bank regulators to finally draft a plan to strengthen the merger guidelines to mitigate the adverse effects of bank consolidation, which include increased evictions, higher rates of debt collection, and decreased access to credit for consumers and businesses.
The Federal Reserve should move quickly to reverse Trump-era deregulatory measures, complete rules required under the 2010 Dodd-Frank law, and tackle challenges to improve fairness and equity in the financial system, according to Renita Marcellin, senior policy analyst at Americans for Financial Reform.
Amid growing concern about corporate consolidation, the Center for Responsible Lending (CRL) and Americans for Financial Reform Education Fund are leading a letter calling for the Federal Reserve and the Office of the Comptroller of the Currency (OCC) to reject a proposed merger between TD Bank and First Horizon Bank.
Federal banking regulators should ensure that banks advance financial inclusion, further racial justice in lending and avoid making loans or investments that harm the environment or cause housing displacement, a group of public interest organizations argued today.
Americans for Financial Reform Education Fund, along with 25 undersigned organizations, is pleased to submit comments responding to the Joint Notice of Public Rulemaking (NPR) from the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively “the agencies”) regarding changes to the Community Reinvestment Act of 1977 (CRA).
WASHINGTON – The predatory lending practices of EasyPay Finance and Utah-based, FDIC-supervised Transportation Alliance Bank (TAB Bank) are hurting military servicemembers, veterans, and their families, according to a new report from a coalition of consumer advocacy groups released in advance of Memorial Day.
AFR Education Fund and 46 other organizations sent a letter to regulatory agencies urging them to suspend all non-COVID-19 rulemaking activity. Public advocates and regulatory agencies should focus all resources on responding to the public health emergency and the economic crisis.