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Articles tagged with: Regulation

Statement for the Record: Statement to House Financial Services Committee on Facebook Libra Proposal
July 17, 2019 – 9:13 am

The AFR Education Fund sent a statement for the record to the House Financial Services Committee concerning Facebook’s proposal for the Libra digital token and payment system. The statement describes ways in which Facebook is attempting to create an unregulated financial product of potentially global scale and the dangers this would pose to the users of the token and the broader financial system.

Save The Date: Join AFR Ed Fund At Its ‘Big Bank Regulation Under The Trump Administration’ Conference
May 6, 2019 – 4:32 pm
Save The Date: Join AFR Ed Fund At Its ‘Big Bank Regulation Under The Trump Administration’ Conference

 

Join us on May 21st for an analysis and discussion of the important developments in the regulation and supervision on big banks, and their effects on financial security and economic stability. View the details here, or below.

Joint Letter: 80 groups oppose CFPB’s no-action letter and sandbox proposal
February 12, 2019 – 11:41 am

Letter from 80 groups opposing the CFPB’s changes to its no-action letter policy and new sandbox proposal

TOWS Brief: Wall Street Makes Bank on Trump
January 31, 2018 – 9:41 am

On the first anniversary of the Trump administration, the Take on Wall Street coalition catalogs the ways that Wall Street made bank on Trump in 2017.

Letter to Regulator: AFR, 8 organizations provide detailed recommendations to FHFA to improve language access in the mortgage industry
August 1, 2017 – 4:10 pm

“The burden of interpreting financial services jargon and communicating with lenders and servicers should not rest solely on borrowers. . . . Expanding access to language services throughout the mortgage process would begin to equalize a system that currently undermines the ability of LEP borrowers to understand the complexities of their future homeownership prospects and to protect their home after purchasing it.”

Letter to Regulators: AFR Opposes SoFi’s Deposit Insurance Application
July 19, 2017 – 12:15 pm

“…The essence of SoFi’s application is a request to seek the benefits of federal deposit insurance without subjecting SoFi itself or its private equity owners to the well-founded requirements for bank holding companies. The FDIC should not approve the application to facilitate this regulatory arbitrage. …If its application is granted, SoFi will be the first new ILC to secure deposit insurance in over a decade. That will send a clear signal to the marketplace that the FDIC intends once again to approve ILC deposit insurance applications. FDIC should not grant SoFi’s application and allow the ILC loophole to be revived.”

Letter to Congress: Oppose H.R. 10 – The Wall Street’s CHOICE Act Would Devastate Financial Regulation
June 7, 2017 – 10:49 am

“H.R. 10, the ‘Financial CHOICE Act’… would be better dubbed ‘Wall Street’s CHOICE Act,’ as it would have a devastating effect on the ability of regulators to protect consumers and investors from Wall Street exploitation and the economy from financial risks created by too-big-to-fail megabanks. It would expose consumers, investors, and the public to greatly heightened risk of abuse in their regular dealings with the financial system, and our economy as a whole to a far greater risk of instability and crisis.”

Letter to Regulators: AFR Calls on CFTC to Forcefully Regulate High-speed Automated Trading
May 2, 2017 – 11:28 am

“…We urged the Commission to be more aggressive in laying out structural reforms to the markets and more specific limits on dangerous automated trading practices. The current Supplemental NPRM does not change our basic assessment, as it maintains the basic framework of the 2015 NPRM, with no movement toward additional specificity in risk limits or risk control requirements or reduced discretion for market actors in designing and implementing risk controls…