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Congressional Testimony: AFR Policy Director Marcus Stanley testifies to House Financial Services Committee.
July 18, 2018 – 3:53 pm

On July 17, 2018, AFR Policy Director Marcus Stanley offered testimony at a hearing entitled “Examining Capital Regimes for Financial Institutions,” before the Financial Institutions and Consumer Credit Subcommittee of the House Financial Services Committee.

Letters to Regulators: AFR commented on Federal Reserve, OCC, FDIC proposed rule regarding the implementation of CECL accounting rules.
July 13, 2018 – 11:00 am

Americans for Financial Reform sent a letter to the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation commenting on a proposal …

Letters to Regulators: AFR commented on a proposal that would cut the minimum required leverage ratio at the largest U.S. banks.
June 26, 2018 – 11:32 am

Americans for Financial Reform sent a letter to the Federal Reserve Board of Governors and the Office of the Comptroller of the Currency to comment on a proposal that would reduce the minimum leverage ratio …

Letters to Regulators: AFR commented on Federal Reserve proposed changes to capital rules to implement new stress buffer requirements.
June 26, 2018 – 11:18 am

AFR commented on a Federal Reserve proposal that would integrate the capital requirements in its different capital regimes to institute new stress buffer requirements.

Joint Letter: 25 Organizations Write Dept of ED on Evaluating Undue Hardship Claims in Student Loan Bankruptcy
May 24, 2018 – 3:33 pm

AFR was among 25 organizations that signed-on to comments by the National Consumer Law Center on evaluating undue hardship claims in student loan bankruptcy. You can view or download the PDF here.

Letters to Regulators: AFR opposed roll back of transparency disclosures to investors in SEC proposed rule “Investment Company Liquidity Disclosures.”
May 22, 2018 – 12:03 pm

AFR commented on the roll back of transparency disclosures to investors in the SEC proposed rule “Investment Company Liquidity Disclosures.”

AFR Statement: Statement on Appointment of Andrew Smith as Head of FTC Bureau of Consumer Protection
May 17, 2018 – 2:29 pm

“The least likely candidate to run the FTC’s consumer protection unit ought to be the former lawyer for a notorious payday lender that the FTC itself pursued for a billion-dollar settlement and who is now in prison on a racketeering conviction,” said José Alcoff, Payday Campaign Manager at Americans for Financial Reform.

Joint Letter: 8 Organizations Warn Regulators Against Bank Payday Loans and Rent-a-Bank Arrangements
May 15, 2018 – 6:25 pm

“Deposit advance” loans are payday loans, pure and simple, and data clearly show they create the same debt trap caused by non-bank payday loans. High-cost longer-term loans facilitated by banks and credit unions would also cause customers substantial harm. We also urge you to ensure that all financial institutions engaged in small dollar lending (1) limit interest rates to 36% or less, and (2) determine borrowers’ ability to repay their loans by assessing both income and expenses rather than engaging in collateral-based income-only underwriting.”