Americans for Financial Reform https://ourfinancialsecurity.org/ Mon, 07 Aug 2023 21:25:07 +0000 en-US hourly 1 https://wordpress.org/?v=6.2.2 https://ourfinancialsecurity.org/wp-content/uploads/2016/10/cropped-A-square-32x32.jpg Americans for Financial Reform https://ourfinancialsecurity.org/ 32 32 Letters to the Regulators: Letter to FHFA in Support of Tenant Protections https://ourfinancialsecurity.org/2023/08/letters-to-the-regulators-letter-to-fhfa-in-support-of-tenant-protections/ Mon, 07 Aug 2023 21:25:07 +0000 https://ourfinancialsecurity.org/?p=36334 View or download a PDF of the letter here Americans for Financial Reform Education Fund joined the Homes Guarantee Campaign and over 300 national, state, and local organizations to call on the Federal Housing Finance Agency to require tenant protections in order to receive federal

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]]> News Release: Agencies Propose Basel III Endgame & Enhancements after 2023 Crisis https://ourfinancialsecurity.org/2023/08/news-release-agencies-propose-basel-iii-endgame-enhancements-after-2023-crisis/ Wed, 02 Aug 2023 18:59:03 +0000 https://ourfinancialsecurity.org/?p=36323 Washington, D.C. – The Federal Reserve, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency jointly announced on Thursday, July 27, a notice of proposed rulemaking to implement final components of the Basel III regulatory capital framework for Large Banking Organizations and introduce changes in response to the banking crisis of 2023. 

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]]> Blog Post: The Exponential Growth of Private Credit: Risky and Nearly Invisible https://ourfinancialsecurity.org/2023/08/blog-post-the-exponential-growth-of-private-credit-risky-and-nearly-invisible/ Wed, 02 Aug 2023 18:25:31 +0000 https://ourfinancialsecurity.org/?p=36319 Since the Great Financial Crisis of 2008, one of the murkiest corners of the financial market – private credit – has exploded in size as investors chase higher returns. Private credit, also referred to as non-bank direct lending, has become the fastest area of growth in corporate lending.

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]]> News Release: House Republicans Voted Against Fairness for Small Businesses in Trying to Repeal the CFPB’s 1071 Rule https://ourfinancialsecurity.org/2023/07/news-release-house-republicans-voted-against-fairness-for-small-businesses-in-trying-to-repeal-the-cfpbs-1071-rule/ Fri, 28 Jul 2023 20:21:37 +0000 https://ourfinancialsecurity.org/?p=36309 Washington, D.C.- House Republicans' vote yesterday to repeal the Consumer Financial Protection Bureau’s (CFPB) Section 1071 rule, which combats discrimination and increases transparency among small business lenders is yet another example of the agency’s opponents trying to undermine the work and efficacy of a popular agency, according to Americans for Financial Reform and a coalition of consumer advocates.

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]]> News Release: Dangerous Crypto and Accountability Bills Clear Congressional Committees Despite Major Objections from Consumer Advocacy Groups, Labor Unions and More https://ourfinancialsecurity.org/2023/07/news-release-dangerous-crypto-and-accountability-bills-clear-congressional-committees-despite-major-objections-from-consumer-advocacy-groups-labor-unions-and-more/ Fri, 28 Jul 2023 20:07:37 +0000 https://ourfinancialsecurity.org/?p=36306 Washington, DC - House Financial Services Committee passed a series of bills this week that create light-touch rules for cryptocurrencies, limit investors' and workers' ability to hold corporations accountable, and hamper regulators' ability to meaningfully participate in international governing bodies that set global standards for our financial system.

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]]> News Release: As Financial Risks from Climate Grow, Advocacy Groups Push FSOC to Enact Safeguards https://ourfinancialsecurity.org/2023/07/news-release-as-financial-risks-from-climate-grow-advocacy-groups-push-fsoc-to-enact-safeguards/ Thu, 27 Jul 2023 20:55:00 +0000 https://ourfinancialsecurity.org/?p=36298 WASHINGTON, D.C. — A coalition of advocacy groups today submitted multiple comment letters to the Financial Stability Oversight Council (FSOC) on two proposals that would strengthen its toolbox for addressing threats to financial stability, including those related to climate change, and make it easier to designate nonbank companies like asset managers and insurance companies as systemically important institutions that need enhanced regulation by the Federal Reserve Board. The comment periods on the proposals close on July 29.

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]]> Letters to Congress: Letter Opposing Anti-ESG Bills https://ourfinancialsecurity.org/2023/07/letters-to-congress-letter-opposing-anti-esg-bills/ Wed, 26 Jul 2023 15:49:56 +0000 https://ourfinancialsecurity.org/?p=36288 Americans for Financial Reform sent a letter to the House Financial Services Committee opposing bills that undermine shareholders' ability to make sound financial decisions and hold corporations accountable. In our letter, we provide an overview of the bills noticed during the various ESG hearings and briefly discuss why we oppose them.

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]]> Letters to Regulators: CFPB Should Finalize Residential PACE Rule and Develop Consumer Protections for Emerging Green Lending Products https://ourfinancialsecurity.org/2023/07/letters-to-regulators-cfpb-should-finalize-residential-pace-rule-and-develop-consumer-protections-for-emerging-green-lending-products/ Wed, 26 Jul 2023 14:51:34 +0000 https://ourfinancialsecurity.org/?p=36296 Americans for Financial Reform Education Fund submitted a comment letter, endorsed by 20 partner organizations, to the Consumer Financial Protection Bureau (CFPB)’s proposed rule on residential Property Assessed Clean Energy (PACE) financing.  The letter urges the CFPB to finalize the residential PACE rule swiftly to

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]]> Letter to Congress: Letter for the Record in Opposition to H.R. 4766, the Clarity for Payment Stablecoins Act of 2023 https://ourfinancialsecurity.org/2023/07/letter-to-congress-letter-for-the-record-in-opposition-to-h-r-4766-the-clarity-for-payment-stablecoins-act-of-2023/ Wed, 26 Jul 2023 14:04:03 +0000 https://ourfinancialsecurity.org/?p=36285 Americans for Financial Reform and Demand Progress sent a letter to Congress today expressing opposition to H.R. 4766, the Clarity for Payment Stablecoins Act of 2023. Both groups fear the bill as posted creates a regulatory pathway that is too permissive for so-called stablecoins (which are rarely stable) and that would fail to adequately protect consumers and increase the potential risks stablecoins pose to financial markets and systems.

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]]> Letter to Congress: Consumer Advocacy Organizations Oppose H.R. 4763, The Financial Innovation and Technology for the 21st Century Act https://ourfinancialsecurity.org/2023/07/letter-to-congress-consumer-advocacy-organizations-oppose-h-r-4763-the-financial-innovation-and-technology-for-the-21st-century-act/ Tue, 25 Jul 2023 19:51:13 +0000 https://ourfinancialsecurity.org/?p=36276 Americans for Financial Reform and Demand Progress joined other consumer advocacy and public interest organizations in sending a letter to Congress expressing opposition to H.R. 4763, The Financial Innovation and Technology for the 21st Century Act, a bill intended to create a market regulatory structure for digital assets.

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