@ourfinancialsecurity.org
AFR is a nonpartisan and nonprofit coalition of more than 200 civil rights, consumer, labor, business, investor, faith-based, and civic and community groups. We are working to lay the foundation for a strong, stable, and ethical financial system.
Happening in one hour at 3pm ET/2pm CT/12 noon PT! Join AFREF's Natalia Renta for a discussion with Dr. Lenore M. Palladino on the impacts we can expect from the rapid expansion of private credit and why financial justice advocates should be concerned.
RSVP here: us06web.zoom.us/webinar/regi...
still wondering, what is private credit, again?!
join me for a webinar organized by @ourfinancialsecurity.org on wed march 4th at 3pm et
us06web.zoom.us/webinar/regi...
AFR and our allies are urging Senate leadership to act — it’s time to get Wall Street out of housing and put communities first. Accountability, affordability, and people over profits.
ourfinancialsecurity.org/government/l...
Map of the wages needed to pay for a two-bedroom rental in each state without paying more than 30% of a full time worker's income
Not only is Wall Street buying up houses, private equity landlords:
😡 raise rents
💸 impose new fees & charges
🛠️ skimp on upkeep &
⚖️ pursue tenants in court
Rent is unaffordable. Home prices are unaffordable. Where are people supposed to live?
💹 ➡️ nlihc.org/sites/defaul...
People struggling to save for a home during a cost-of-living crisis now must compete with all-cash purchases from private equity firms & investors. That isn't fair. The American Homeownership Act will fix this.
More from AFR’s Caroline Nagy on our blog➡️
ourfinancialsecurity.org/news/real-re...
For two decades, when the economy has tanked & families lost their homes, private equity firms have exploited financial hardships to snap up properties.
By 2022, the 5 largest investors owned 300,00 houses. That’s like owning more than all the single family homes in Vermont
Wall Street's out of control in the housing market. Owning a home is out of reach for too many people.
Trump likes to talk big, but his record is giveaways & favors to Wall Street.
@warren.senate.gov's American Homeownership Act is a real plan to fix this ourfinancialsecurity.org/news/real-re...
With an industry-friendly administration full of private equity magnates, the push to offload private equity junk onto retirement savers & small investors is accelerating. We cannot afford to ignore the danger signs.
New blog from AFR's Oscar Valdés Viera:
ourfinancialsecurity.org/news/as-dark...
Cathy's story is an increasingly more common one. Financial industry lobbyists looking to change the rules + an administration with little interest in protecting consumers mean we'll be seeing even more stories like hers in the months and years ahead. www.theguardian.com/us-news/ng-i...
Small investors like Cathy Shubert trust financial firms to help them plan for retirement. But after Shubert's adviser put her 401(k) savings into risky products intended for wealthy investors, Shubert lost more than half of her money. She's not alone. www.theguardian.com/us-news/ng-i...
One year after Trump and Vought tried to dismantle the CFPB, it still stands thanks to the nonstop fighting from CFPB workers and advocates. This Valentine’s Day, tell Congress to show working families some love, not Wall Street. Restore CFPB funding now! bit.ly/lovecfpb #CFPBMyValentine
Love looks like protecting veterans and hardworking families from predatory scams. Love looks like stopping discriminatory lending. This Valentine’s Day, let’s demand lawmakers stand with everyday people. Click the link to demand Congress restore CFPB funding bit.ly/lovecfpb #CFPBMyValentine
Tell Congress to show us their love for the American people by voting to restore CFPB funding immediately!
Is there an elected official in your life who could use some tough 🩷? Send your message to Congress and ask them who their Valentine will be this year: Working people or greedy billionaires? #CFPBMyValentine
www.responsiblelending.org/show-your-lo...
A year ago, Trump's administration gutted the CFPB. It's still around thanks to many amazing consumer advocates, but enough is enough.
Tell Congress not to cozy up to big banks and instead show the CFPB a little love: www.responsiblelending.org/show-your-lo... #CFPBMyValentine
AFR Education Fund filed comments opposing the attempt by Trump family’s crypto company World Liberty Financial to get its own bank charter. “The conflicts of interest are unprecedented," said AFR/AFREF's Patrick Woodall.
Read the full comment here: buff.ly/j1GWk8c
“There is every reason to fear that Trump’s banking officials will rubber stamp a highly-profitable giveaway to the First Family’s crypto company that creates serious risks for both economic stability and national security.” - Patrick Woodall, AFR managing director for policy
If its charter application is approved, World Liberty Financial would gain access to all the benefits of being a publicly chartered bank—including emergency bailout lines of credit— without the oversight & supervision that usually goes along with that.
Trump family crypto firm World Liberty Financial has applied for a national trust bank charter, but WLF’s business model does not fall within the bounds of what this kind of charter permits, and the application raises grave conflicts of interest and corruption concerns.
📰 ➡️ buff.ly/ffDLlce
The CFPB's mission has long made it a target, surviving a Supreme Court case and numerous attempts at slashed funding. But the same reason the agency is under attack is exactly why we must fight to save it.
📺️ at 4pm ET buff.ly/1dGXGLm
“Instead of putting the hardworking people & families who rely on the CFPB to protect them from rip-offs, fraud & discrimination first, [Trump]’s CFPB would rather green light giveaways to big banks, big tech & Wall Street." -Tom Feltner, AFR associate director of consumer policy
Under the direction of acting director Russell Vought, over the past year the CFPB has dropped countless enforcement actions, suspended workers, and reduced oversight all while prioritizing the needs of financial firms.
ourfinancialsecurity.org/news/one-yea...
This timeline shows how one year ago, the Trump administration took over the CFPB and began a quest to dismantle the agency responsible for protecting consumers from abuses by big banks and Wall Street.
ourfinancialsecurity.org/resources/fa...
This scandal should be a very, very big deal:
"Under any other president, such an arrangement would cause a political earthquake in Washington...But this latest example of corruption involving Trump and his family business hardly made a blip over the past few days."
“People should be very alarmed that we are trying to deregulate something that is a known problem in our financial system...It feels very much like we’re repeating a pattern in some ways.“ - Caroline Nagy, AFR Associate Director of Housing Policy www.levernews.com/trump-is-rev...
Like much of anything AI or crypto related, the sudden development of its data centers has been reckless and largely unregulated. We don't even fully understand yet all the threats posed to the economic, environmental, climate and water security of communities. And what we do know isn't good.
"In light of the monetary ties and the cozy relationship between the Spy Sheikh and President Trump, it is even more imperative that Senators make clear the United States is not for sale to the highest crypto bidder." -Patrick Woodall, AFR's Managing Director for Policy
Instead of legislation that puts the needs of the people and safety of the entire financial system first, crypto firms continued their push for less guardrails at the White House today.
Read more➡️ finance.yahoo.com/news/exclusi...
Thanks @klobuchar.senate.gov @michaelbennet.bsky.social @smith.senate.gov @durbin.senate.gov @booker.senate.gov @lujan.senate.gov @warnock.senate.gov @welch.senate.gov @fetterman.senate.gov @schiff.senate.gov @slotkin.senate.gov for standing up for people & voting against the crypto lobby's bill.
🚨 Senate Ag Committee GOP just rammed thru partisan giveaway to crypto billionaires despite unanimous opposition from Senate Ag Dems
