AFR submitted a comment letter to the CFPB supporting their proposed guidance clarifying the relationship of their servicing rules to stronger state laws. The letter also makes suggestions for improvement.
AFR joined more than 45 organizations in submitting a comment letter to the OCC and the FDIC supporting their proposed guidance on bank payday lending. The letter praises their proposal, and adds some additional steps that we believe would be beneficial to curbing the use of payday loans.
For too long, the rules of Wall Street have been written by the bankers themselves. The result was the financial crisis that cost Americans millions of jobs, along with billions in taxpayer-funded bailouts, and trillions of dollars in pension funds, home values, and retirement savings.
We are a coalition of more than 250 national, state and local groups who have come together to reform the financial industry. Members of our coalition include consumer, civil rights, investor, retiree, community, labor, religious and business groups as well as economists and other experts. See who's in the coalition.