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Joint Letter to the OCC Opposing Any Changes that Would Weaken the Community Reinvestment Act
November 19, 2018 – 4:13 pm | Comments Off on Joint Letter to the OCC Opposing Any Changes that Would Weaken the Community Reinvestment Act

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November 19, 2018
 
Office of the Comptroller of the Currency
400 7th Street SW
Washington, DC 20219
 
Re: Reforming the Community Reinvestment Act Regulatory Framework,
Docket ID OCC-2018-0008
 
Dear Mr. Otting,
 
The 36 undersigned consumer, community, civil rights …

Letters to Congress: AFR sent a letter to the U.S. Senate opposing the misleading-labeled “Taxpayer Protection and Responsible Resolution Act.”
November 19, 2018 – 10:27 am | Comments Off on Letters to Congress: AFR sent a letter to the U.S. Senate opposing the misleading-labeled “Taxpayer Protection and Responsible Resolution Act.”

Americans for Financial Reform sent a letter to the U.S. Senate opposing the “Taxpayer Protection and Responsible Resolution Act” (TPRRA), a legislation that gives special privileges to large financial institutions, encourages the continuation of “too big to fail”, and increases systemic risk.

AFR In The News: CFPB’s ‘Disclosure Sandbox’ Puts Consumers At Risk (American Banker)
November 19, 2018 – 9:58 am | Comments Off on AFR In The News: CFPB’s ‘Disclosure Sandbox’ Puts Consumers At Risk (American Banker)

Paul Volcker, the former chairman of the Federal Reserve, once quipped that the ATM was “the only useful innovation in banking for the past 20 years.” Today’s regulators, especially ones taken with the new fintech industry, would do well to remember that new doesn’t necessarily mean better for most people.

Letters to Regulators: AFR submitted letter to the SEC opposing efforts to weaken shareholder rights.
November 15, 2018 – 2:00 pm | Comments Off on Letters to Regulators: AFR submitted letter to the SEC opposing efforts to weaken shareholder rights.

AFR opposes policy proposals that would silence shareholders voice and that would make it harder for proxy advisory firms to advise investors.

Letters to Regulators: Joint Letter to the Federal Reserve about Wells Fargo’s Wrongful Foreclosures
November 14, 2018 – 5:13 pm | Comments Off on Letters to Regulators: Joint Letter to the Federal Reserve about Wells Fargo’s Wrongful Foreclosures

Joint letter to the Federal Reserve asking that Wells Fargo be kept accountable for the computer error that resulted in at least 870 incorrect mortgage modification denials and caused at least 545 homeowners to lose their homes to foreclosure.

Letters to Congress: AFR Opposes the Financial Institution Bankruptcy Act — Changes Would Benefit “Too Big to Fail” Banks
November 13, 2018 – 2:02 pm | Comments Off on Letters to Congress: AFR Opposes the Financial Institution Bankruptcy Act — Changes Would Benefit “Too Big to Fail” Banks

View or download a PDF version of the letter.
November 13, 2018
Dear Senator,
On behalf of Americans for Financial Reform (AFR), we are writing to express our opposition to HR 1667, the “Financial Institution Bankruptcy Act” (FIBA).[1] …

AFR Statement: SEC Advisory Committee Right to Seek Major Changes to Broker Standards Proposal
November 7, 2018 – 3:56 pm | Comments Off on AFR Statement: SEC Advisory Committee Right to Seek Major Changes to Broker Standards Proposal

What we heard today from the diverse membership of the SEC’s own advisory committee is that they share our view that the proposed Reg BI would not protect investors. The IAC has called on the SEC to instead pass rules that make clear that brokers have a legal obligation to act in the best interests of their clients.

AFR Statement: Wells Fargo Must Compensate Wrongfully Evicted Homeowners
November 6, 2018 – 3:19 pm | Comments Off on AFR Statement: Wells Fargo Must Compensate Wrongfully Evicted Homeowners

Wells Fargo must complete a comprehensive review that identifies every single homeowner affected by this problem, and must adequately compensate them for the serious harm they have suffered as a result of losing their homes to wrongful foreclosure or paying for a more expensive modification.