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Letters to Regulators: Bank regulators should not weaken prudential rules for U.S. operations of foreign banks.
June 24, 2019 – 1:06 pm

Regulatory agencies purport to “tailor” prudential rules, but they are severely undermining capital and liquidity requirements for foreign banks operating in the U.S.

Letters to Regulators: Joint Letter to the OCC Opposing Any Changes that Would Weaken the Community Reinvestment Act
November 19, 2018 – 4:13 pm

On November 19, 2018, AFR and 35 organizations sent a joint letter to the OCC urging the agency not to weaken the Community Reinvestment Act.

Joint Statement: CRL, AFR Urge OCC Not To Weaken Standards In CRA Update
November 19, 2018 – 10:06 am

The groups pressed the OCC that any changes to the CRA must strengthen — not weaken — banks’ obligation to meet the needs of low-income communities and communities of color and that changes must result in expanded access to credit in historically redlined areas.

News Release: OCC Headed in Wrong Direction with Plan on Community Reinvestment Act
August 28, 2018 – 7:59 pm

The OCC proposal would dramatically limit the CRA’s effectiveness by distilling the complexity of the different credit needs of varied American communities to one numerical ratio and quantitative benchmarks, and would reduce public participation in the process that is fundamental to moving banks towards greater responsiveness to the needs of diverse customers and communities.

Joint Letter: 8 Organizations Warn Regulators Against Bank Payday Loans and Rent-a-Bank Arrangements
May 15, 2018 – 6:25 pm

“Deposit advance” loans are payday loans, pure and simple, and data clearly show they create the same debt trap caused by non-bank payday loans. High-cost longer-term loans facilitated by banks and credit unions would also cause customers substantial harm. We also urge you to ensure that all financial institutions engaged in small dollar lending (1) limit interest rates to 36% or less, and (2) determine borrowers’ ability to repay their loans by assessing both income and expenses rather than engaging in collateral-based income-only underwriting.”

Letter to Congress: AFR Opposes A Dozen Deregulatory Bills in House Financial Services Committee Markup
November 14, 2017 – 7:55 am

AFR sent a letter opposing a dozen different deregulatory bills being marked up by the House Financial Services Committee.
AFR Letter Re HFSC 11-14 Markup

Letter to Congress: Oppose HR 2148 — Don’t Put Loopholes In Bank Risk Protections
November 7, 2017 – 2:50 pm

AFR sent an opposition letter to HR 2148, which would have put loopholes in new rules designed to ensure that banks did not make excessively risky commercial real estate loans.
HR 2148 Oppo letter

Letter to Congress: AFR Urges House Financial Services Committee To Reject 19 Deregulatory Bills
October 11, 2017 – 1:34 pm

AFR sent the letter below to the House Financial Services Committee urging them to reject nineteen deregulatory bills.
AFR Letter Re HFSC 10-11 Markup