AFREF, Consumer Federation of America and Prof. Art Wilmarth submitted comments to the FDIC warning about the harms to consumers, communities, and the financial system that would ensue from expanding the industrial loan company (ILC) bank charter loophole to Big Tech, crypto, and other predatory financial firms.
Americans for Financial Reform along with ten undersigned partner organizations write in support of legislative efforts to reform the National Flood Insurance Program (NFIP) to improve insurance affordability, expand coverage, and promote resilience. The NFIP is a critical program that protects households across the country from economic devastation from flooding and allows them to rebuild […]
Recent research reveals that homeowners with lower credit scores or who live in neighborhoods of color are often charged more for property insurance coverage even when the disaster risks they face are comparable to those paying less for insurance. As climate risk grows, borrowers perceived by insurance companies as having riskier credit characteristics could be disproportionally burdened by higher insurance costs that undermine their financial stability.
Americans for Financial Reform sent a letter opposing the bills noticed for the September 10th “Proxy Power and Proposal Abuse: Reforming Rule 14a-8 to Protect Shareholder Value” hearing and expressing concern over alarming corporate governance developments we believe the House Financial Services Committee should be focusing on instead.
On the 20th anniversary of Hurricane Katrina, AFR/AFREF’s Associate Director of Housing Policy Caroline Nagy joined a webinar, “Katrina at 20: Climate Capital, Injustice, and the Path Forward,” hosted by Manley Consulting Group, The Horizon Project, Hip Hop Caucus, and Majority Action.
AFREF submitted a comment to the Federal Reserve, Office of the Comptroller of the Currency, and the FDIC criticizing a dangerous proposal to weaken critical bank capital standards put in place after the 2008 financial crisis that would increase the likelihood and severity of a financial crisis that could imperil the entire economy.
Americans for Financial Reform joined labor and progressive advocacy groups representing millions of workers in a letter to state financial officers who oversee pension funds that hold billions of dollars in shares of Tesla, urging them to oppose excessive pay packages for Tesla CEO Elon Musk, warning it would put workers’ retirement savings at unnecessary risk and undermine corporate accountability. […]
The GENIUS Act crypto stablecoin bill enriches billionaires and Trump while posing real risks to people and the financial system, lacks any real consumer protections, and will facilitate money laundering and illicit finance. The post Factsheet: AFR Factsheet on The GENIUS Act’s Flaws and Failures appeared first on Americans for Financial Reform.
“AFR fact sheet on CLARITY Act cryptocurrency legislation that is a giveaway to crypto billionaires but poses enormous risks to the financial system and crypto investors. The legislation fails to address the administration’s crypto corruption, weakens oversight of cryptocurrency, undermines state regulators, promotes regulatory evasion, and fails to protect consumers, investors, and financial markets.” The […]
AFREF joined Public Citizen and other groups in a letter to the Securities and Exchange Commission in defense of executive compensation disclosures. The post Letters to the Regulators: Letter to the SEC in Defense of Executive Compensation Disclosure appeared first on Americans for Financial Reform.