Americans for Financial Reform facts for kids
 |
|
| Formation | 2009 |
|---|---|
| Type | Nonprofit advocacy group |
| Purpose | Stricter regulation of U.S. financial system |
| Location | |
|
Executive Director
|
Lisa Donner |
Americans for Financial Reform (AFR) is a group that works to make sure the financial system in the United States is fair and safe. They want stronger rules for big banks and financial companies, often called Wall Street. AFR is made up of about 200 different groups. These groups include organizations that protect consumers, workers, and other special interests.
Contents
What AFR Does
AFR helps create new rules to make the financial system better. They supported a law called the Dodd–Frank Wall Street Reform and Consumer Protection Act. This law was passed to prevent another big financial crisis.
Protecting Consumers
AFR also supported creating the Consumer Financial Protection Bureau (CFPB). The CFPB is a government agency that helps protect people when they deal with banks, credit cards, and loans. It makes sure financial companies treat customers fairly.
The Take on Wall Street Campaign
In 2016, AFR started a campaign called Take on Wall Street. Senator Elizabeth Warren helped make this campaign well-known. The goal of this campaign is to change how the financial system works. They want to make sure it serves everyday people, not just big corporations.
- One idea they support is public banking. This means banks would be run by the government for the good of the community.
- Another idea is postal banking. This would allow people to do basic banking services at post offices.
Working with Government Leaders
AFR also works to make sure that people who believe in stronger financial rules are chosen for important government jobs. For example, during the Biden administration, AFR supported the nomination of Saule Omarova. She was considered to lead the Office of the Comptroller of the Currency (OCC). The OCC is a government office that supervises banks.
External links
- Take on Wall Street
