Letters to Regulators
AFR submitted a comment letter to federal regulators urging that they impose strong restrictions on Wall Street executive pay and bonuses to ensure that they do not create incentives to take inappropriate short-term risks. This should be made a critical priority, given the role of pay in creating the incentives that led to the 2008 financial crisis.
AFR offered comments to the Consumer Financial Protection Bureau in response to their Request for Input on how consumers are using mobile financial services to access products and services, and manage finances. While mobile technology can enhance access to safer and more affordable technology for consumers, benefits will only be seen if technological systems are safe, fair, and honest. Regulators can help consumers—as well as those in industry—by establishing strong minimum standards.
AFR offered comments to the Federal Housing Finance Agency in response to their Request for Input related to g-fee policy and implementation. AFR encouraged FHFA to refrain from instituting any increases in g-fees or loan-level price adjustments (LLPAs) at this time.
AFR joins our members in urging OCC to update preemption rules
AFR joined consumer organizations in urging the OCC to update its preemption rules to comply with Dodd Frank reduction of sweeping federal preemption of state consumer protection actions.
AFR and Public Citizen submitted a comment letter to the Federal Reserve Board, calling on them to close the loophole in its proposed ban on big bank mergers,
Sixty groups, along with Americans for Financial Reform, sent a letter to Federal Housing Finance Agency Director Mel Watt today regarding the use of principal reduction as a loss mitigation strategy.
AFR submitted a letter to the Fed and the OCC suggesting that leftover funds from the Independent Foreclosure Review (IFR) be spent to help current and Former homeowners who have been hurt in the foreclosure crisis.
AFR offered comments to regulators on what kinds of risk exposures banks should be required to back with their own capital.