Americans for Financial Reform
@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.
Did you know Congress is considering exempting banks who experiment with AI from established financial laws that protect civil rights and financial stability? What could go wrong? Find out in our new report⬇️ buff.ly/wb6Oyc6
Sandbox or Quicksand: The Perils of AI Exemptions from Federal Financial Laws
Congress is considering dangerous legislation to create broad exemptions from federal laws and regulations for the use of AI by regulated financial firms.
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Yesterday's private bailout of a former FTX employee's hedge fund is not an isolated incident. Margin debt is at an all time high, and investors across the board are borrowing money to bet big on AI.
The top 5 tech companies' debt is already greater than the subprime mortgage market at its peak before the 2008 crash. As the AI bubble burst looms, AFREF's Maya Jenkins & @openmarkets.bsky.social Matt Scherer explore consequences in today's @BostonGlobe op-ed: www.bostonglobe.com/2026/07/30/o...
This profile by @ourfinancialsecurity.org of Marc Andreessen and Brian Armstrong is really important, because it makes explicit that you can't be anti-oligarch AND pro-crypto. Dems need to pick a lane. ourfinancialsecurity.org/resources/cr...
The Crypto Oligarchs - Americans for Financial Reform
A handful of crypto billionaires with extreme anti-democratic views stand to profit immensely from passage of the CLARITY Act – the massive deregulatory crypto bill poised for a Senate floor vote this...
ourfinancialsecurity.org
While comment letters can feel wonky, we write them to have real impact. Thank you, @annmlipton.bsky.social, for your shoutout & for calling out trends towards corporate governance authoritarianism. Corporate insiders shouldn't get free rein to do what they want w/o transparency or accountability.
Ann M. Lipton@annmlipton.bsky.social · 2w agoThe SEC is proposing huge changes to corporate reporting, in a condensed time period, that would collectively dramatically reduce public company disclosures. Some comment letters are not so much comments as preludes to litigation. This is a good example: www.sec.gov/comments/S7-...
The pending Senate vote on the crypto industry's pet project, the CLARITY Act, is on a knife's edge! The next week could determine whether CLARITY is brought to a vote and passes, or is delayed and possibly defeated. ourfinancialsecurity.org/news/senate-...
Senate Must Stand Up to Crypto Billionaires and Trump Crypto Corruption - Americans for Financial Reform
Soon, Senators will face a stark choice when the crypto industry’s top priority, the CLARITY Act, comes up for a vote.
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ICYMI yesterday the Senate Homeland Security & Governmental Affairs Committee voted to advance Jeffrey Brodsky & William Gallo to the full Senate for a confirmation vote to serve on the Board of Governors to the United States Postal Service. Why is this such a big deal?
The updated CLARITY text is out, and unsurprisingly it's still bad. It: ⛔️ fails to cover any existing Trump family’s crypto enterprises, ⛔️ excludes his sons who operate the family crypto firms, and ⛔️ allows carve outs so Trump-branded crypto can continue to make him richer buff.ly/0s9DNcD
So-called Ethics Provision in the CLARITY Act Fails to Prohibit Corruption - Americans for Financial Reform
The long-promised ethics provisions in the CLARITY Act crypto legislation are a fig leaf that don’t cover Trump’s unprecedented crypto corruption or the rampant efforts by crypto billionaires to…
ourfinancialsecurity.org
New piece from our very own Natalia Renta, AFR's associate director for corporate governance & power!
Inequality.org@inequality.org · 2w agoThe SpaceX scam has delivered record profits for Wall St banks but big risks to everyday retirement savers. Natalia Renta of @ourfinancialsecurity.org explains what we can do about it.
Today marks 15 years since the Consumer Financial Protection Bureau opened its doors and gave people a powerful watchdog against Wall Street abuse.
Acting CFPB Director Russell Vought was back in front of Congress today to face questions from Senators over the Bureau's actions under his watch. Some highlights and lowlights from today's proceedings 1/13
Highlights and lowlights from acting CFPB Director Russell Vought's first (and likely last) appearance before the House Financial Services Committee today: 1/16
Today, for the first time since the Trump administration took office, CFPB Acting Director Russell Vought had to answer before the House Financial Services Committee for his attacks on the CFPB—and the people who depend on it. ourfinancialsecurity.org/news/press-r...
Press Release: Trump Dismantling CFPB but Voters Support the Agency - Americans for Financial Reform
Since the first weeks of the Trump administration, Consumer Financial Protection Bureau (CFPB) Acting Director Russell Vought has worked to carry out the Project 2025 goal of dismantling the Bureau,…
ourfinancialsecurity.org
We're joining @chrismurphyct.bsky.social, @indivisible.org & @benmckenzie.bsky.social on Capitol Hill today to discuss the CLARITY Act's dangers, its failure to rein in Trump’s crypto schemes, & concerns over political corruption & the crypto industry's influence in DC
LIVE: Murphy, Van Hollen, Merkley, Indivisible, AFR Address CLARITY Act, Trump Crypto Corruption
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Our new poll with Center for Responsible Lending shows 80% of midterm voters support the CFPB. “There is a massive disconnect between Congressional Republicans’ push to loosen Wall Street regulations, and what midterm voters actually want.” -Tom Feltner, AFR ourfinancialsecurity.org/news/press-r...
Earned wage access products are nothing more than high interest payday loans in disguise that prey on struggling workers. Thank you, @pressley.house.gov for taking action against the deceptive lending practices and astronomically high interest rates utilized by these fintech companies.
Congresswoman Ayanna Pressley@pressley.house.gov · last mo.I introduced an amendment to ensure that states have the authority to take action to improve consumer protections. And Republicans voted it down. Grateful Massachusetts is leading the way & protecting consumers who were victims of predatory earned wage access products.
A new poll shows that voters across party lines are concerned about the crypto industry’s influence in Washington, and worried that legislation shaped by crypto donations will enrich the industry at the public’s expense. ourfinancialsecurity.org/news/press-r...
Press Release: New Poll Reveals Republicans, Democrats, and Independents Agree that Crypto Needs Strong Regulations - Americans for Financial Reform
A new poll shows that voters across party lines are concerned about the crypto industry’s influence in Washington, and worried that legislation shaped by crypto donations will enrich the industry at…
ourfinancialsecurity.org
Today Rep. Maxine Waters & Natalia Renta, AFR's associate director of corporate governance & power, sounded the alarm on how new changes to the rules governing passive investments will harm workers, retirees and families. Full testimony on AFR's website: buff.ly/F3KuPTX
Today Natalia Renta, AFR's associate director of corporate governance and power, is testifying on how new changes to the rules governing passive investments could harm workers, retirees & families. Hearing starts at 10am ET! buff.ly/7WgIndz
Hearing Entitled: From Wall Street to Main Street: The Future of How America Invests
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📰 🚨 New commentary from Patrick Woodall of AFR Education Fund and John Foti of @4taxfairness.bsky.social explores how this "administration’s sprawling crypto ethical lapses fundamentally degrade U.S. democracy." ourfinancialsecurity.org/news/the-lat...
The Latest Tax Code Cheat: Audit Immunity, Conflicts of Interest, and Crypto Grift - Americans for Financial Reform
President Trump is attempting to give himself a get out of tax jail free card: the Trump Justice Department recently settled an IRS case brought by Trump that gives him, his businesses, and his…
ourfinancialsecurity.org
Just a reminder it's Monday and we have both an affordability crisis and the world's first trillionaire while the White House hosts literal cage matches on the front lawn.
SpaceX went public today at $135 a share and $1.77 trillion valuation — an almost 100 price to sales ratio — with a governance structure that consolidates power with Elon Musk and attempts to dramatically restrict shareholder lawsuits. buff.ly/XSmJfB7
Stock buybacks have hit a record high. In the past 8 years, 100 of the biggest US corporations have used the Trump-GOP tax cuts to help repurchase $4.8 trillion of their own stock, according to a new analysis by @4taxfairness.bsky.social Report: americansfortaxfairness.org/new-analysis...
"Congress has an obligation to intervene before an economic crisis occurs, starting by alleviating the burden already felt on people’s pocketbooks, exercising Congressional oversight over AI firms & stopping a bailout of the industry"-Dr. Sarah Myers West buff.ly/MOd1bz0
Warren’s Warning: Is The AI Boom America’s Next Financial Crisis?
The Senate Committee on Banking, Housing, and Urban Affairs will be hearing from four witnesses who will discuss a broad range of issues related to AI.
forbes.com
Voting by mail is safe, secure, convenient, and for many people, it is the only accessible way to cast a ballot. The USPS delivers the mail. It does not run elections. Sign if you agree: actionnetwork.org/letters/dema...
Demand USPS Reject Trump's Illegal Order
Donald Trump is trying to turn the United States Postal Service into a federal checkpoint for mail in ballots – and the USPS is getting ready to implement the illegal order in less than 30 days. I...
actionnetwork.org
Amanda Carpenter@amandacarpenter.bsky.social · 2mo agoLet's talk about why Trump is obsessing over California elections where he isn't on the ballot and his preferred candidates aren't competitive. And, no, it has nothing to do with Spencer Pratt. But it DOES have everything to do with the midterms and beyond.
Concern over Friday’s SpaceX IPO continues to grow. @warren.senate.gov is now calling on the SEC to delay, citing risks to investors and market stability. Letter: buff.ly/SjzuSaf Why is SpaceX IPO a big deal? 🧵⬇️
Join our next data center training on June 10th at 1pm ET. We’ll map the industry players driving data center development - from private equity and Big Tech to developers and utilities - and break down their tactics to push this buildout onto communities: bit.ly/policy-in-practice-training-series
This is a great resource.
Molly White@molly.wiki · 2mo agoI've been running Follow the Crypto since 2024. Today I'm relaunching it as Tech Influence Watch, expanded to cover AI political spending alongside crypto. They’ve spent more than $400 million this election cycle, and now you can follow it in close to real time. influence.citationneeded.news
The announcement comes on the heels of engagement by @repmaxinewaters.bsky.social. We are grateful to her for taking decisive action to protect workers’ retirement savings.
Press Release: S&P Holds the Line, SpaceX and Other Mega IPOs Will Not Be Fast-Tracked into the S&P 500 - Americans for Financial Reform
Last night, S&P announced that it will not be changing its rules in ways that would have allowed SpaceX and other large, recently-public companies to be fast-tracked into the S&P 500 and other major i...
ourfinancialsecurity.org
Americans for Financial Reform@ourfinancialsecurity.org · 2mo agoS&P holds the line, SpaceX and other mega IPOs will not be fast-tracked into the S&P 500 ourfinancialsecurity.org/news/press-r...
S&P holds the line, SpaceX and other mega IPOs will not be fast-tracked into the S&P 500 ourfinancialsecurity.org/news/press-r...
Press Release: S&P Holds the Line, SpaceX and Other Mega IPOs Will Not Be Fast-Tracked into the S&P 500 - Americans for Financial Reform
Last night, S&P announced that it will not be changing its rules in ways that would have allowed SpaceX and other large, recently-public companies to be fast-tracked into the S&P 500 and other major i...
ourfinancialsecurity.org