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AFREF, the Institute for Policy Studies, Global Economy Project, and Public Citizen led a letter with 22 additional signatories to the agencies tasked with implementing section 956 of Dodd-Frank. That section tasked six agencies with promulgating regulations to prevent incentive-based executive compensation that encourages “inappropriate risk” by May 2011. Almost 12 years later, we don’t have […]
AFREF and 14 allies sent a letter urging the FDIC to stop permitting its supervised institutions to front for predatory lenders evading state interest rate limits. The post Letters to Regulators: Letter Urging the FDIC to Stop Permitting its Supervised Institutions to Front for Predatory Lenders Evading State Interest Rate Limits appeared first on Americans […]
AFREF joined a letter opposing the online lender Figure Bank’s application for a charter. The post Letters to Regulators: Letter Opposing Figure Bank’s Application for a Charter appeared first on Americans for Financial Reform.
Americans for Financial Reform Education Fund (AFREF) applauds the Office of the Comptroller of the Currency (OCC) for seeking comment on this strong first draft of principles to guide large banks on how to manage the risk that climate change poses to their safety and soundness. The post News Release: OCC Seeks Input on Climate […]
“Deposit advance” loans are payday loans, pure and simple, and data clearly show they create the same debt trap caused by non-bank payday loans. High-cost longer-term loans facilitated by banks and credit unions would also cause customers substantial harm. We also urge you to ensure that all financial institutions engaged in small dollar lending (1) […]