New Report: The Volcker Rule: Its Past, Present, and Uncertain Future
Letters to Regulators: AFR Education Fund sent a letter to the Federal Reserve urging regulators to reject misguided recommendations regarding the implementation of S.2155.
Americans for Financial Reform Education Fund published a new report describing the history of the Volcker Rule and the efforts of the financial industry to undermine it. The Volcker Rule is a central element of post-crisis financial regulation that is intended to be a modern version of the Glass-Steagall division between commercial banks and Wall […]
Letters to Regulators: AFR Education Fund submitted a letter to the SEC regarding proposed amendments to the Whistleblower Program rules
October 1, 2018 Americans for Financial Reform Education Fund (AFR Education Fund), sent a letter to the Federal Reserve in response to the recent letter from Senator Perdue and others. The Perdue letter urges regulators to view the implementation of S. 2155 as requiring extensive and inappropriate deregulation of large banks. AFR Ed Fund argued […]
Joint Letter: 62 Orgs Urge ED to Reject Changes that Weaken Accountability
Americans for Financial Reform Education Fund sent a letter to the SEC regarding proposed amendments to the Commission’s Whistleblower Program rules. While we generally support a few of the proposed amendments, we are concerned that a number other proposed changes would initially undermine the Whistleblower Program and ultimately weaken the SEC ability to discover fraud, […]
Joint Letter: 68 Orgs Call on Dept of ED to Preserve Gainful Employment Rule
Americans for Financial Reform Education Fund joined with 61 other organizations to tell the Department of Education that we are closely monitoring their ongoing efforts to recklessly deregulate higher education. As 62 organizations and advocates for students, families, taxpayers, veterans and service members, we wrote to express grave concern that the Department of Education’s 2019 […]
StoptheDebtTrap Statement: 49 Senators Tell the CFPB to Protect Service Members
Americans for Financial Reform Education Fund joined with 67 other organizations working on behalf of students, consumers, vets, servicemembers, civil rights, & college access to urder Education Secretary Betsy Devos not to eliminate the gainful employment rule, which serves to defend students from high-cost, low-return career ed programs. You can find a copy of the letter here.
Letters to Regulators: AFR sent a letter to the U.S. Commodity Futures Trading Commission criticizing a new de minimis threshold proposal
“’We commend Senator Reed and his fellow senators for their leadership in protecting service members from abusive predatory lenders. Financial distress continues to be a leading factor that contributes to a lack of combat readiness and family stability for our men and women in uniform,’ said José Alcoff, payday campaign manager at Americans for Financial Reform. ‘Families and service members rely on the Consumer Bureau to ensure lenders comply with the law, and are caught if they target service members with debt trap loans.’”
AFR Statement: Department of Education’s Proposed New Borrower Defense Rule Sacrifices Students to For-Profit Industry Greed
The de minimis exemption is a critical element of the swap dealer rule, as it determines which swap dealers will actually be designated as regulated swap dealers and subject to formal dealer oversight. This CFTC proposal addresses a wide range of issues surrounding this exemption. These range from the step-down from $8 billion to $3 […]
Congressional Testimony: AFR Policy Director Marcus Stanley testifies to House Financial Services Committee.
“The proposed Borrower Defense rule sacrifices students’ rights in order to line the pockets of executives at for-profit colleges, an industry that has shown time and again that it will use taxpayer dollars to deceive and defraud its own students.” said Alexis Goldstein, AFR’s Senior Policy Analyst. “With this rule and its extreme and absurd barriers to relief, Devos effectively tells students that if a school scams them, they’re on their own.”
On July 17, 2018, AFR Policy Director Marcus Stanley offered testimony at a hearing entitled “Examining Capital Regimes for Financial Institutions,” before the Financial Institutions and Consumer Credit Subcommittee of the House Financial Services Committee.