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AFR led a coalition of 39 partner organizations in a letter to Speaker Mike Johnson and Minority Leader Hakeem Jeffries opposing H.R. 4790 and H.R. 5339. These bills are part of a broader campaign against common sense investment practices and would undermine workers’ retirement security, weaken corporate accountability, and compromise the integrity of our financial […]
Americans for Financial Reform recently joined Democracy Forward and several consumer protection organizations in an amicus brief in Chamber of Commerce v. CFPB, which was filed in the 5th Circuit in August 2024. This brief supports the CFPB’s 2022 clarification in its Supervision and Examination Manual that “discriminatory acts or practices” in the provision of […]
Americans for Financial Reform Education Fund and the Center for Responsible Lending support the rule to prohibit creditors and consumer reporting agencies from using medical debt information for credit eligibility determinations. The rule is essential to protect families from the negative impacts of medical debt on their health and their finances. But the rule is […]
View or download a PDF of the letter here. The Americans for Financial Reform Education Fund today submitted a comment opposing a proposal by the New York Stock Exchange and the Securities and Exchange Commission that would end annual shareholder meetings for closed-end funds. Closed-end The post Letters to the Regulators: AFREF oppose NYSE/SEC proposal […]
The Americans for Financial Reform Education Fund submitted a comment to the Securities and Exchange Commission and the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) supporting the proposal to require the $125 trillion in Registered Investment Advisers (RIAs) and Exempt Reporting Advisers (mainly Venture Capital) to implement Customer Identification Programs to better understand who […]
The proposed acquisition of Discover by Capital One would create the sixth-largest bank in the United States, with $624 billion in domestic assets. This transaction fails to meet the public interest conditions under the Bank Merger Act that directs banking regulators to reject mergers, like the Capital One-Discover transaction, that fail to further the convenience […]
The proposed Capital One takeover of Discover would create a mammoth bank that would undermine competition, raise prices, and harm consumers. The merger would create the biggest credit card lender — holding nearly one-third of credit card loans to consumers with non-prime credit scores — and put Capital One in a position to use its market power […]
Americans for Financial Reform Education Funded joined with the National Consumer Law Center, the Consumer Federation of America, and other advocacy groups to express our support for recent announcements from Fannie Mae and Freddie Mac, reflecting their intention to explore carefully-crafted pilot programs aimed at reducing closing costs for homeowners–specifically, a “title acceptance” pilot program. […]
AFR signed on to a letter urging leaders of the House Appropriations Committee to undo irresponsible funding cuts and reject the harmful riders in the Fiscal Year 25 Commerce, Justice, Science, and Related Agencies (FY25 CJS) Appropriations legislation passed by the House Commerce, Justice, and Science (CJS) Subcommittee. The post Letters to Congress: Letter Urging […]
AFREF and 23 signatories submitted a comment letter calling on the Treasury Department and the IRS to finalize a rule implementing the 1% stock buybacks excise tax with strong anti-avoidance provisions. The post Letters to the Regulators: Letter Urging the Treasury and the IRS to Finalize the Stock Buybacks Excise Tax Rule appeared first on Americans […]