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...

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

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.

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...

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

📰 🚨 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...

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

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...

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.

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.

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...

This Consumer Advocacy Day advocates from across the nation are in DC to demand Congress: ✅️ Restore the CFPB’s full funding level to 𝐚𝐭 𝐥𝐞𝐚𝐬𝐭 12% ✅️ Protect its independent funding mechanism ✅️ Defend the agency’s critical complaint system ✅️ Stand up for the CFPB & #ProtectConsumers ! #CAD2026

Today's SEC proposal to repeal its 2024 disclosure rule on climate-related financial risk for large public companies is a sweeping reinterpretation of the agency’s disclosure authority and will leave investors and markets without critical information. ourfinancialsecurity.org/news/sec-usi...

AFR Education Fund recently submitted a letter to the Financial Stability Oversight Council opposing the administration’s effort to weaken oversight of nonbank financial firms. If implemented, the guidance’s proposed policies would heighten the threat of systemic risk across the financial system.

Today, the crypto industry-drafted CLARITY Act passed out of the Senate Banking Committee on a largely party line vote. All Committee Republicans and two Democrats voted yes on this dangerous bill. 🧵

Markup for H.R.3633, the Digital Asset Market Clarity Act, begins shortly at 10:30AM ET! We'll be watching to see which Senators speak out to protect consumers and who instead caters to the crypto billionaires. www.banking.senate.gov/hearings/05/...

Last August, a handful of @democrats.senate.gov said they'd only accept crypto legislation that met certain principles. The latest version of the Senate crypto legislation not only doesn’t meet that standard, it puts our whole economy at risk. ourfinancialsecurity.org/news/deeply-...

Private equity corporate landlords are contributing to the housing affordability crisis & making things worse for first time homebuyers, manufactured housing residents & renters. We can reverse these trends if legislators are willing to take on PE & fight for legislation that reigns in its abuses.

Today, @democrats.senate.gov are taking over the Senate floor to force a series of 20 votes to reverse Donald Trump’s roll back of rules that protect American consumers and lower their costs. Here's what you need to know ➡️ ourfinancialsecurity.org/resources/fa...

Thank you @pressley.house.gov for your remarks and for fighting for the dignity of work.

Congress is considering HR 4801, the Unleashing AI Innovation in Financial Services Act, a dangerous bill that lets big banks seek broad waivers from existing civil rights, consumer protection & financial stability laws while they experiment with AI. ourfinancialsecurity.org/government/l...

DC area folks, heads up there is a great film screening and Q&A tonight on crypto at 6:30pm!

More PE layoffs: Beginning May 18th, Family Dollar will lay off nearly 400 workers. This comes after the company was purchased by private equity firms last year

Fossil fuel companies account for 64% of private equity firms’ energy portfolios, down just 1% from 2025. At this pace, private equity would not fully exit fossil fuels until at least 2090

There is never a good time for deregulating banks, but it would be hard to pick a worse time. Hearing starts in a few minutes!

Did you know in NC, wealthy Black, Latino & Asian mortgage applicants are 2x as likely to be rejected by Wells Fargo as middle-class white applicants? Our joint study found troubling patterns of racial disparity & underrepresentation at Wells Fargo➡️ buff.ly/XbTkIts

“Rather than cutting enforcement, supervision & outreach staff, we should be strengthening the capacity of those offices to hold financial wrongdoers accountable.” - Tom Feltner, AFR Associate Director of Consumer Policy www.washingtoninformer.com/budget-proce...

"The CFPB is the main agency with authority and the mission to help consumers with credit reporting issues, and if we're serious about protecting Americans and ensuring the integrity of the credit reporting system then we must support a strong CFPB." - @repbillfoster.bsky.social

"In a time when consumers are struggling already with the affordability of everyday expenses, Congress should be helping consumers address credit reporting problems, not caving to the industry’s wish list." @chichiwu.bsky.social #ProtectConsumers #CreditReporting www.nclc.org/bills-boosti...

The CFPB "has saved in refunds to American families $21 billion since 2011. That's not counting the probably 4-5x that amount saved by stopping predatory schemes in their tracks."- @merkley.senate.gov Not all criminals wear masks. Trump putting Vought in charge of the CFPB was a gift to lawbreakers.

The 2027 budget Vought has presented to Congress is a declaration of war on everyday people. It is tone-deaf, cruel, and proof of the Trump administration’s disdain for those suffering through this cost-of-living crisis. www.pbs.org/newshour/pol...

NEW: The Biden administration sued a Texas land developer accused of duping tens of thousands of Hispanic residents. Trump’s DOJ is now offering an unprecedented settlement that experts say could target the very people who were harmed by the developer. w/ @texastribune.org

In all but 3 states, insurance companies can underwrite a home insurance policy & price those policies based on the homeowner’s credit score. Lower credit score borrowers pay 30% more than higher credit households with similarly risk properties. ourfinancialsecurity.org/news/4-reaso...

“In five years, the resolution of consumer disputes is going to be worse, credit reports are going to be worse and it’s going to be harder for folks to fix them, guaranteed.” #stopvought #savecfpb

The FBI’s new 2025 Internet Crime Report, which analyses the scope and scale of online financial criminal activity and who is most impacted by it, confirms what too many survivors already know – we’re living in a golden age of online financial fraud driven by crypto. buff.ly/qpzLBbm

The rush to grant bank charters to crypto companies like Coinbase, and to hand them many of the privileges of being a bank without corresponding oversight, is dangerous and runs counter to longstanding federal law & practice. Statement ➡️ ourfinancialsecurity.org/news/stateme...

No ICE. No war. No Kings. #nokings

Did you know that in all but 3 states, insurers can use your credit score to determine what you pay for homeowners insurance? Your insurance commissioner or state legislature can stop this predatory industry behavior–in fact, it’s their job.

Well this is going nowhere good.

AFR proudly supports the Ultra-Millionaire Tax Act. Our tax system is unjust. Wealthy elites should not be able to game the system at the expense of the rest of us. Let's get this done. Read the bill text in @warren.senate.gov's press release➡️ www.warren.senate.gov/newsroom/pre...