Today's Date: December 2, 2022
T. ROWE PRICE VICE PRESIDENT OF TRADING ANALYTICS TERESA WOODARD WINS WOMEN IN FINANCE AWARD   •   Shareholder Alert: Bernstein Litowitz Berger & Grossmann LLP Announces the Filing of Securities Class Action Lawsuit Against   •   Elderwerks Releases Comprehensive 400-Page Resource Directory to Help the Senior Community; Nonprofit Answers Call to Help Careg   •   Women Of MENA In Technology Launches its 20th city in Arizona   •   TD Bank Group Invests in JA Canada to Support Youth Across Canada with Financial Literacy Education   •   POSCO Group CEO, Jeong-woo Choi, Meets the Prime Minister of Australia, Anthony Albanese, to Discuss Future Eco-friendly Project   •   INVESTOR ALERT: Law Offices of Howard G. Smith Continues Investigation of DLocal Limited (DLO) on Behalf of Investors   •   Minister Ng announces that Evol is helping deliver much-needed access to capital to women entrepreneurs in Quebec   •   SHAREHOLDER ACTION ALERT: The Schall Law Firm Files Class Action on Behalf of Investors in Generac Holdings Inc. and Advises Sha   •   mesm Tokyo, Autograph Collection: Enjoy a Magical Space at mesm Tokyo. "BLUE FANTASY 2022" Starts on December 1st, 2022   •   Largest ratification by an Indigenous Nation in Canadian History ratifies Constitution for Métis Nation of Alberta   •   Benchmark Named 'Top Place to Work' By The Boston Globe For 15th Straight Year   •   Kyoto City creates new page to promote the city's efforts in English and reach a wider overseas audience   •   Bowe Stewart Foundation Makes Historic Gift to Invest In Women As Civic Leaders   •   UroGen Announces New Data from the OLYMPUS Trial that Shows Median Durability of Response of 28.9 Months for JELMYTO®, the O   •   “It’s Not Over,” says AHF on World AIDS Day 2022!   •   Metropolitan General Manager Issues Statement on Announcement of Initial State Water Project Allocation   •   MORE THAN 16,000 WOMEN & TOP SPEAKERS FOCUS ON THE FUTURE OF WOMEN IN THE WORKPLACE AT NATION'S LARGEST CONFERENCE FOR WOMEN   •   SHI receives first order for next-generation proton therapy system from Taichung Veterans General Hospital   •   Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Continues Investigation of DLocal Limited (DLO) on Behalf
Bookmark and Share

La Raza: Financial Reform Will Provide Protection For Latino Consumers


Washington, DC—The passage of the “Restoring American Financial Stability Act of 2010” (S. 3217) represents a strong step forward in the fight to improve the accountability of Wall Street and eliminate deceptive lending practices in communities of color, many of which have been wrongfully steered toward dubious and risky financial services, said NCLR (National Council of La Raza), the largest national Latino civil rights and advocacy organization in the United States.

“We are especially pleased with the Senate for standing up to special interest auto dealers and resisting their calls for a carve-out,” said Janet Murguía, NCLR President and CEO. “Now, the financial well-being of America’s families rests on Congress. While the bill still needs to be strengthened in key areas, it represents a strong foundation on which scams and abuses will be addressed. It’s time for Congress to stand up for Latino families by bringing together the strongest elements of both bills.”

The banking reform bill includes the following provisions that are critical to Hispanic families:

Establishes a new agency, the Consumer Financial Protection Bureau (CFPB), dedicated to enforcing consumer protection laws. CFPB will also keep its pulse on emerging trends of financial abuse and have the ability to write rules to address issues as they arise. Notably, the Senate resisted efforts by auto dealers to create a damaging loophole that would exempt them from the CFPB’s oversight.

Includes new disclosures that create a more transparent process for wiring money abroad. New protections championed by Senator Akaka (D–HI) will create a disclosure that displays the true cost of the remittance and the value received.

Provides expanded access to independent financial advice and guidance. Families need real-time guidance on how to get back on their feet financially. With financial planning services out of reach for most, Senator Menendez (D–NJ) spearheaded the expansion of the Financial Education and Counseling program, which works with credit unions, community-based nonprofit organizations, and Community Development Financial Institutions (CDFIs) to provide free financial advice to empower families to make solid financial decisions and long-term plans for their future.

Promotes access to safe and affordable bank accounts and credit for low-income, minority, and underbanked families. Currently, many Latino consumers rely on fringe financial products such as payday and car title loans to pay their bills and otherwise make ends meet. The bill will provide grants to help families connect to bank accounts and provide funding to CDFIs to create alternatives to payday loans.

As the legislative process moves forward, NCLR urges Congress to reject backdoor deals to strip out fundamental reforms included in the House and Senate versions of banking reform. Instead, members must look for ways to bolster key provisions so that the final bill represents the strongest possible reform for American families. NCLR will continue to work to strengthen reform policies in the best interest of American families.

“We are now one step closer to establishing a banking system that puts families on the path to a more secure financial future,” concluded Murguía.

For more information, please visit www.nclr.org/bankingreform | www.facebook.com/nationalcounciloflaraza | www.myspace.com/nclr2008 | http://twitter.com/nclr.

###

NCLR The largest national Hispanic civil rights and advocacy organization in the United States, NCLR works to improve opportunities for Hispanic Americans. Through its network of nearly 300 affiliated community-based organizations, NCLR reaches millions of Hispanics each year in 41 states, Puerto Rico, and the District of Columbia. To achieve its mission, NCLR conducts applied research, policy analysis, and advocacy, providing a Latino perspective in five key areas: assets/investments, civil rights/immigration, education, employment and economic status, and health. In addition, it provides capacity-building assistance to its Affiliates who work at the state and local level to advance opportunities for individuals and families.



Back to top
| Back to home page
Video

White House Live Stream
LIVE VIDEO EVERY SATURDAY
alsharpton Rev. Al Sharpton
9 to 11 am EST
jjackson Rev. Jesse Jackson
10 to noon CST


Video

LIVE BROADCASTS
Sounds Make the News ®
WAOK-Urban
Atlanta - WAOK-Urban
KPFA-Progressive
Berkley / San Francisco - KPFA-Progressive
WVON-Urban
Chicago - WVON-Urban
KJLH - Urban
Los Angeles - KJLH - Urban
WKDM-Mandarin Chinese
New York - WKDM-Mandarin Chinese
WADO-Spanish
New York - WADO-Spanish
WBAI - Progressive
New York - WBAI - Progressive
WOL-Urban
Washington - WOL-Urban

Listen to United Natiosns News