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Letters to Regulators

Letter to Regulators: AFR Calls on Department of Labor to Protect Retirement Investors
July 22, 2015 – 11:15 am

“This is a huge problem – one that, over time, can easily add up to a difference of tens or even hundreds of thousands of dollars in retirement savings. Under the current rules, some of the financial professionals offering retirement investment advice are legally bound to look out for the best interests of their clients; but other professionals, while perceived as having such a duty and clearly benefiting from the perception, are free to put their own interests first, even if that means saddling their clients with needlessly high fees or inappropriate risks.”

Letter to Regulators: AFR, 114 Organizations Urge CFPB to Protect Student Loan Borrowers from Unfair Servicing Practices
July 13, 2015 – 6:32 pm

“The undersigned consumer, student, education, and civil rights groups submit this comment in support of student loan servicing reform. Fair and accurate student loan servicing is crucial to protect student loan borrowers’ rights under the law and help them repay their loans successfully. “

Letter to Regulators: AFR, AFSCME and CFA Oppose Weakening of Independence Standard for Municipal Advisors
July 13, 2015 – 4:31 pm

“As discussed below, we do believe that this proposal outlines a significant rule change that could potentially reverse the statutory intention of the Dodd-Frank Act to provide a majority of independent members on the Board. We suggest that the Board extend the comment period to allow for more detailed examination of this proposal by members of the public interest community with an interest in municipal finance.”

Letter to Regulator: AFR Urges Treasury to Reconsider Excluding Foreign Exchange Swaps from Dodd-Frank Regulations
July 7, 2015 – 10:37 am

“On behalf of Americans for Financial Reform, we are writing to urge you to reconsider and reverse the Treasury Department’s 2012 Determination that foreign exchange derivatives be excluded from Dodd-Frank regulations covering other forms of over-the-counter derivatives. “

Letter to Regulator: AFR Joins 8 Organizations in Urging FCC to Strengthen Consumer Protections Against Robodialing
June 4, 2015 – 5:29 pm

“We, the undersigned national advocacy organizations representing consumers across America, very much appreciate the Chairman’s proposed Declaratory Ruling rejecting most of the requests by industry to undermine the essential protections of the Telephone Consumer Protection Act. “

Letter to Regulator: AFR Joins 45 Organizations in Urging the Department of Education to Act Proactively Towards Predatory, For-Profit Colleges
June 3, 2015 – 1:22 pm

“This letter seeks to engage the Department of Education on developing a proactive, risk-based, student-centered strategy for dealing with companies that the Department has reason to believe may be breaking the law and putting students and taxpayers in jeopardy.”

Letter to Regulator: AFR, 3 Organizations Call for Strong Guidance on “Management Fee Waiver”
May 11, 2015 – 2:58 pm

“After finally addressing the fee waiver tax abuse after all of these years, the least the IRS can do is to vigorously enforce the law for all open years. Anything less would accurately be described as a tax amnesty program for billionaires.”

Joint Letter: Corinthian Students Deserve Federal Loan Relief, Say AFR and 33 Cosigners
May 1, 2015 – 5:04 pm

“Given the extensive evidence of widespread fraud at Corinthian Colleges, we believe all current and former students deserve federal loan discharges. We are particularly concerned that students whose entitlement to federal loan discharges is crystal clear – those recently enrolled in the 30 Corinthian campuses that closed on Monday – are being given incomplete, incorrect, and harmful information about their options from Education Department staff as well as from schools that do not have these students’ best interests in mind. “