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Letters and Statements

AFR Statement: Oppose OCC Bid to Control Consumer Protection
June 23, 2017 – 3:56 pm

The OCC’s proposals would directly weaken financial regulatory protections and push aside other agencies so the OCC could take critical guardrails off of Wall Street on its own

Letter to Congress: AFR opposes Neomi Rao’s confirmation as Administrator of OIRA
June 20, 2017 – 5:58 pm

“Americans for Financial Reform opposes the confirmation of Neomi Rao as Administrator of the Office of Information and Regulatory Affairs (OIRA). Professor Rao’s announced views demonstrate an extreme disregard for the independence of financial regulatory agencies and an unwarranted hostility to critical financial protections.”

AFR Statement: DeVos Decision to Delay Borrower Defense is a Slap in the Face to Students
June 14, 2017 – 12:33 pm

Americans for Financial Reform strongly condemns the decision by Secretary of Education Betsy DeVos to abandon the victims of predatory colleges by delaying the Borrower Defense rule. This is a slap in the face to defrauded Americans, and a stunning admission by the Department of Education that they intend to place wealthy for-profit college executives ahead of students striving for a better life.

AFR Statement: Treasury Report Pushes Rollbacks for Wall Street and Predatory Lenders
June 12, 2017 – 7:08 pm

Treasury proposal advances ideas that have been pushed by industry lobbyists since Dodd-Frank was passed. We need more effective regulation and enforcement, not rollbacks driven by Wall Street and predatory lenders.

Joint Statement: Fiduciary Rule, Win for Retirement Savers, Takes Effect Today After Years-Long Effort
June 9, 2017 – 11:42 am

Financial advisers now owe their clients a duty to put their interests first when giving retirement advice. This change is a huge victory for ordinary Americans investing for a secure retirement, one that will put billions of dollars back in their pockets.

Letter to Congress: Oppose H.R. 10 – The Wall Street’s CHOICE Act Would Devastate Financial Regulation
June 7, 2017 – 10:49 am

“H.R. 10, the ‘Financial CHOICE Act’… would be better dubbed ‘Wall Street’s CHOICE Act,’ as it would have a devastating effect on the ability of regulators to protect consumers and investors from Wall Street exploitation and the economy from financial risks created by too-big-to-fail megabanks. It would expose consumers, investors, and the public to greatly heightened risk of abuse in their regular dealings with the financial system, and our economy as a whole to a far greater risk of instability and crisis.”

AFR Statement: CHOICE Act a Sellout of Ordinary Americans
June 6, 2017 – 10:16 am

“Putting the greed of campaign contributors ahead of the public interest, lawmakers are preparing to take a wrecking ball to reforms that addressed a devastating financial crisis and recession.”

Joint Letter: Open Letter to Acosta Urging Strong Fiduciary Rule Without Delay
May 19, 2017 – 11:34 am

In the face of supporting evidence described above, in addition to harming retirement savers, the Department would be exposing itself to significant legal risk to change course and further delay the Rule now.