Join our mailing list to stay apprised on actions in Congress and the regulators, and help us fight for a safer and fairer economy:
Pinned Tweet
Show this thread
Follow
Click to Follow RealBankReform
AFR
@RealBankReform
AFR is a coalition of over 200 organizations campaigning for real reform in our banking & financial systems. We want to #ProtectConsumers and #StopTheDebtTrap
AFR’s Tweets
Scope 3 reporting isn’t just about risk; it’s also about opportunity.
Enhanced disclosure helps farmers attract investment and financial incentives for sustainability
1
2
Show this thread
This #FinancialLiteracyMonth hear from
AFR’s Mark Hays speaking on the false promises of cryptocurrencies and racial equity, and how believing the hype can threaten progress toward real solutions for financial inclusion.
youtube.com/watch?v=mD0BAU
1
.’s popular education program, aims to train thousands within our community to organize around the financialization of our economy.
This #FinancialLiteracyMonth help us take our democracy back from corporations and the super rich.
takeonwallst.com/about/activist
GIF
2
2
This is What Happens When Hedge Funds Control Local News
3
5
. holds payday lenders, James R. Carnes and Melissa C. Carnes for hiding 💵💰💵 through a series of fraudulent transfers to avoid paying more than $40M in restitution + penalties for an illegal payday lending scheme. #DefendCFPB #ProtectConsumers
Quote Tweet
Two violators of consumer finance laws owe victims more than $38 million, but one hid cash and assets to avoid paying back their victims. CFPB is holding James R. & Melissa C. Carnes accountable for those fraudulent transfers. Learn how: consumerfinance.gov/about-us/newsr
1
6
and minority-owned small businesses,” said , Consumer Policy Counsel at Americans for Financial Reform. “Fair and equal access to capital is critical for U.S. small businesses and the communities in which they operate to thrive.”
Show this thread
“With rules implementing Section 1071 of the Dodd-Frank Act finalized, the CFPB will be able to collect comprehensive data on small business lending, giving regulators better tools for enforcing fair lending laws and advancing equitable treatment for women…
1
Show this thread
News Release: CFPB Finalizes Important Rule for Fair Small Business Lending
1
2
4
Show this thread
This #NationalFairHousingMonth thank ! In Feb they shut down RMK Financial, a mortgage loan business for repeated deception targeted at #MilitaryFamilies #DefendCFPB
bit.ly/CFPBxRMK
1
Letters to Regulators: Letter to FHFA on the Federal Home Loan Bank System
ourfinancialsecurity.org/2023/03/letter
#Didyouknow that #PrivateEquity is fueling the climate crisis? The private equity industry owned close to 700 utility-scale power generation facilities in 2021 that emitted about 200 million metric tons of carbon dioxide annually.
Learn more at stopwallstreetlooting.org/resources/clim
2
“The guidance should help enforce fair dealing in financial products and services that makes it easier for people to build financial security for themselves and their families.”
1
2
Show this thread
With today’s policy statement, the CFPB is saying to industry: ‘here are the clear lines; we will take action if you try to skirt consumer protection laws,'” said , consumer policy counsel at Americans for Financial Reform Education Fund.”
1
1
2
Show this thread
“The financial crisis revealed how rampant abuse against American consumers undercuts financial stability, not only for individuals but for the entire economy…
1
Show this thread
News Release: New CFPB Guidance Defines Abusive Industry Conduct
1
2
8
Show this thread
“This proposed rule from the CFPB takes the useful step of shining a light on this problem, and making it harder for companies to hide. We urge the Bureau to finalize it swiftly, and to take further action to protect consumers from unfair terms and conditions.”
2
Show this thread
Including their rights to take a company to court to enforce the law,” said , consumer policy counsel at Americans for Financial Reform Education Fund.
1
1
Show this thread
“Some financial services companies regularly put customers at a disadvantage and seek to escape accountability for abusive practices by putting language that strips people of their rights in take it or leave it contracts…
1
1
Show this thread
News Release: CFPB Proposed Rule will Bring Accountability for Financial Corporations
1
8
15
Show this thread
“The increasing popularity of this is going to be interesting to see over these different economic waves,” Hicks said. “The immediate fallout is what’s happening now.” 5/5
Show this thread
A July report from the Fitch ratings agency found delinquencies on the apps increased sharply in the 12 months that ended March 31 of last year, to as high as 4.1% for Afterpay, while credit card delinquencies held relatively steady at 1.4%. 4/5
1
Show this thread
. points to the rising number of delinquent payments as a sign that buy now, pay later could already be contributing to unmanageable debt for consumers. 3/5
1
Show this thread
“Because of inflation, people may think, ‘I’m going to have to get what I need and pay for it later in these installments,’” she said. “But are you still going to be able to afford the things you’re affording now six months from now?” 2/5
1
Show this thread
., consumer policy counsel at Americans for Financial Reform, a progressive nonprofit, said people may not consider seriously enough whether they’ll still be able to afford payments down the road. 1/5
1
1
Show this thread
#DidYouKnow the offers educational tools to help guide your financial decisions.
This #FinancialLiteracryMonth support and #DefendCFPB as they continue to ensure banks, lenders, and other financial companies treat you fairly.
1
2
Thanks to your support, we're making strides in our fight for a fair financial system. With your help, we'll continue to make progress and #ProtectConsumers.
Join our cause and donate today:
bit.ly/AFR-Donate
2
Want to know why we must #DefendCFPB?
Read 's latest blog "Do Not Revamp or Defund the ” and learn why we must protect the Consumer Financial Protection Bureau.
When a government agency is doing its job well, support it!
Read here: bit.ly/MillerCFPB
3
4
My interview with Dir Rohit Chopra on his rxn to the bank failures. I will have more from my interview on his comments on Big Tech & crypto next week. Stay tuned.
6
8
The must address climate risk in the banking system by discouraging banks from implementing risk mitigation measures that rely on avoiding or raising rates in climate vulnerable areas in its finalized principles for large banks. Read more. bit.ly/3JSoO9a
2
1
Leaving behind a deadname shouldn’t mean leaving behind your credit history too.
#NAMECoalition supports the Credit Reporting Accuracy After a Legal Name Change Act: to protect #TransCommunity from unnecessary damages or losses to their credit history. #ProtectConsumers
1
6
. points out that Republicans are suddenly interested in cracking down on banks, which is good to hear. Now we need real change, so that working families do not bear the burden of bank recklessness while executives get big bonuses. #ProtectConsumers 5/end
Show this thread
. Fed must prioritize reversing Trump-era deregulation and completing #DoddFrankAct rulemaking, but … Republicans are also responsible for today’s financial crisis by constantly trying to weaken rules on bank executives and #WallStreet. #ProtectConsumers 4/5
1
Show this thread
. The #DoddFrankAct was vital for #SVBCollapse response. We now need to get back to enhanced supervision of larger banks 3/5
1
Show this thread
. The #SVBCollapse came from Trump-appointed regulators’ deregulation measures and assaults on rules to prevent financial crises and risky management practices while promoting a system that works for working families–not bank executives. #ProtectConsumers 2/5
1
Show this thread
. In 2011, watchdogs asked bank regulators to implement section 956 of Dodd-Frank to prevent incentive-based executive compensation that encourages “inappropriate risk,” like with #SVBCollapse. 12 years on, still no final rule. 1/5
2
7
14
Show this thread
We're live to announce the Fossil Free Finance Act and send a message to banks across the US—climate risk is financial risk. We can't keep financing fossil fuels and letting corporations profit from climate chaos.
62
111
378
Climate change is real & climate change is here.
I'm introducing the Fossil Free Finance Act with & to stop big banks from financing dirty fossil fuel projects—full stop.
We must use every tool available to save lives, our economy, & our planet.
read image description
ALT
36
63
186
Financial institutions under the Federal Reserve’s supervision have provided trillions in direct fossil fuel financing.
I'm proud to join and in introducing the Fossil Free Finance Act to require the Federal Reserve to finally address the climate crisis.
47
64
173