Monthly Archives: April 2017

AFR's Amanda Jackson testifies before the House Financial Services Committee

AFR Testimony: Reject Wall Street’s CHOICE Act

“This legislation would be better dubbed ‘Wall Street’s CHOICE Act,’ because it would have a devastating effect on the capacity of regulators to protect the public interest and defend consumers from Wall Street wrongdoing and the economy from risks created by too-big-to-fail financial institutions.” — testimony at House Financial Services Committee hearing, April 26

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AFR in the News: Demanding transparency and fairness from Trump tax plan (The Hill)

“What Americans want and will continue to demand is, of course, the exact opposite of what Trump’s tax plan represents. They want to see the loopholes closed and Wall Street paying more, not less. Senator Bernie Sanders and Representative Keith Ellison have proposed a sales tax on Wall Street transactions; that would be a good start. Working families pay taxes when they buy a car or a pair of shoes.”

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AFR in the News: How Consumer Financial Protections Could Be Rolled Back (Consumer Reports)

“‘The level of venom directed at the Consumer Financial Protection Bureau, an agency that is successfully carrying out its mission of preventing tricks and traps that harm American families, is astounding,’ said Lisa Donner, executive director of Americans for Financial Reform, a nonpartisan and nonprofit coalition of consumer and other citizen groups. ‘The changes proposed by the legislation only make sense if you want to weaken consumer protections and make it easier for Wall Street, and predatory lenders, to profit by cheating people.’”

Alexis Goldstein appears on CNN with Brooke Baldwin appear on CNN (screen grab)

AFR in the News: Trump’s Tax Plan Slashes Taxes for Big Banks, is a Disaster for American workers (CNN)

AFR’s Senior Policy Analyst Alexis Goldstein appeared on CNN Newsroom with Brooke Baldwin on Wednesday, April 26th to discuss how the Trump Administration’s tax plan would benefit Wall Street and leave ordinary American workers behind. “We have two former bankers from Goldman Sachs announcing a tax plan that–from the details that we do know–will dramatically cut taxes for big banks like Goldman Sachs,” Goldstein said.

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Letter to Congress: Oppose Wall Street’s CHOICE Act–Devastating to Financial Protections

“…We are writing to express our opposition to the “Financial CHOICE Act” and to urge you to oppose this measure. This legislation would be better dubbed “Wall Street’s CHOICE Act,” as it would have a devastating effect on the ability of regulators to protect consumers and investors from Wall Street exploitation and the economy from financial risks created by too-big-to-fail megabanks. It would expose consumers, investors, and the public to greatly heightened risk of abuse in their regular dealings with the financial system, and our economy as a whole to a far greater risk of instability and crisis. “

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Letter to the Regulators: AFR, 31 Orgs Support the CFPB’s Student Loan Servicer Data Collection

AFR and 30 other organizations sent a sign-on letter to the Consumer Financial Protection Bureau in support of their proposed student loan servicing data collection initiative. Compiling such metrics and borrower outcomes would benefit market participants, federal and state agencies, policymakers, and borrowers. Obtaining a clearer view of the student loan market overall will help inform all market participants on how best to serve student loan borrowers.

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AFR in the News: Trump Vows to Unveil Tax Plan (NY Times)

“As business groups cheered [deregulation] moves, some skeptics were left questioning whether Mr. Trump was keeping his campaign promises to give working-class Americans a higher priority than Wall Street bankers. ‘From our perspective, it is a direction that is dramatically backwards on financial stability,’ said Lisa Donner, executive director of Americans for Financial Reform.’”