Why It Matters

Americans for Financial Reform filed a first-quarter lobbying amendment on July 27, revising its lobbying spending to $120,000. Americans for Financial Reform is a nonprofit organization.

The organization advocates for financial regulation across multiple policy areas. Americans for Financial Reform has been particularly vocal on cryptocurrency legislation, with its team criticizing congressional efforts to reshape crypto oversight. The group's lobbying agenda also spans housing policy, predatory lending, health care profiteering and financial transparency, requiring sustained engagement with Congress and federal agencies.

By the Numbers

Americans for Financial Reform operates an in-house lobbying program with two registered lobbyists. Rukmani Bhatia serves as advocacy and legislative director, while Mark Hays is associate director of cryptocurrency and financial technology. Both have remained on the organization's lobbying team throughout the recent disclosure period.

The organization's spending declined during the second quarter. After reporting $150,000 in lobbying expenses during each of the previous three quarters, Americans for Financial Reform reported $100,000 for the second quarter. The organization also filed a first-quarter amendment on July 27 revising that quarter's lobbying spending to $120,000.

Americans for Financial Reform maintained the same two in-house lobbyists from the third quarter of 2025 through the second quarter.

The Agenda

The organization tracked legislation involving housing policy, including the HOPE for Homeownership Act and the 21st Century ROAD to Housing Act. It also monitored legislation addressing predatory lending, shadow banking and financial disclosure requirements.

On cryptocurrency, Mark Hays criticized the Digital Asset Market Clarity Act following its approval by the Senate Banking Committee. Americans for Financial Reform described the measure as a "billionaire-backed crypto bill" that "largely guts federal financial regulators' enforcement powers, undermines state regulators' ability to protect crypto consumers, and creates vague new definitions for crypto financial products that promote regulatory evasion." The organization also published a fact sheet describing the legislation as "a Crypto Cash Grab that is a Consumer Catastrophe."

The Bottom Line

Americans for Financial Reform reduced its lobbying spending after three consecutive quarters at $150,000 while maintaining the same two in-house lobbyists. The organization continues to devote significant attention to cryptocurrency regulation, housing policy and financial oversight, signaling that it expects those issues to remain active on Congress' agenda despite the lower level of lobbying expenditures.

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