Home » Archive by Category

Letters to Regulators

Letter to Regulators: AFR Urges the CFPB to Restrict Forced Arbitration
August 23, 2016 – 9:53 am

“Americans for Financial Reform (“AFR”) appreciates this opportunity to comment on the above referenced proposed rule (the “Rule”) by the Consumer Financial Protection Bureau (the “CFPB” or “Bureau”) to restrict the use of forced arbitration clauses in consumer finance contracts. Forced arbitration is a system designed to leave consumers with no practical ability to enforce their most basic rights and protections.”

Joint Letter: AFR and 280 Allies Strongly Support CFPB Action Against Forced Arbitration
August 22, 2016 – 6:16 pm

“The undersigned… organizations strongly support the Consumer Financial Protection Bureau (CFPB)’s proposed rule to limit pre-dispute binding mandatory (or forced) arbitration clauses in consumer finance contracts. The CFPB rule, which will restore consumers’ ability to band together in court to pursue claims, is a significant step forward in the ongoing fight to curb predatory practices in consumer financial products and services and to make these markets fairer and safer. “

Letter to Regulators: Over 18,000 AFR Members call on the CFPB to Rein in Forced Arbitration Ripoff Clauses
August 18, 2016 – 5:27 pm

Over 18,000 members of Americans for Financial Reform signed a petition calling on the Consumer Financial Protection Bureau to ensure that consumers aren’t deprived of their day in court.

Letter to Regulators: AFR Comments to SEC on Corporate and Financial Disclosures
August 11, 2016 – 3:56 pm

“This extensive concept release poses many questions concerning technical and detailed issues of disclosure. It is also part of a larger set of efforts relevant to financial disclosures, including the Disclosure Effectiveness Initiative, the Reg S-K study mandated by the JOBS Act, the recent proposed changes to materiality standards by the Financial Accounting Standards Board (FASB), and the lengthy and highly technical proposed rule on Disclosure Update and Simplification released on July 13th.”

Letter to Regulators: SEC Should Investigate Potential Unregistered Broker-Dealer Activity at Private Equity Firms
August 2, 2016 – 4:04 pm

AFR wrote to the SEC to urge them to vigorously investigate what appear to be ongoing, widespread violations of securities law by private equity advisers.

Letter to Regulators: AFR Calls on the Dept of ED to Make Wronged Students Whole in the Borrower Defense Rule
August 1, 2016 – 9:00 pm

AFR submitted comments to the Department of Education suggesting ways to ensure that their borrower defense proposal can truly provide a fair and transparent processes for students seeking debt relief following illegal acts by their schools.

Letter to Regulators: Over 10,000 AFR Members call on Dept of ED to Protect Scammed Students
August 1, 2016 – 8:40 pm

Over 10,000 members of Americans for Financial Reform signed a petition calling on the Department to provide full loan relief to defrauded students, provide automatic loan cancellation when there is sufficient evidence of a school’s wrongdoing, not impose time limits on relief for defrauded borrowers, and close gaping loopholes allowing unscrupulous schools to prevent injured students from having their day in court.

Petition to Regulators: AFR & 50 Orgs Urge FCC to Reconsider Ruling that Allows Millions of Robocalls to Cellphones
July 26, 2016 – 6:00 pm

AFR joined with the National Consumer Law Center, on behalf of its low-income clients, and 50 other organizations to file a petition today with the Federal Communications Commission urging reversal of its recent Declaratory Ruling in …