Monthly Archives: June 2014

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AFR Urges Congress Not to Undermine the CFPB

AFR sent a letter to members of Congress urging them to reject proposed legislation within the House Appropriations Committee that make CFPB funding through Appropriations, and strip the Bureau of its independence. This change would leave the CFPB vulnerable to financial industry efforts to cut off funding in retaliation for doing its job. Bank regulators have historically been funded outside of the appropriations process to avoid this outcome, which poses serious risks to our financial system and our economy.

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AFR Advocates for a Simple, Safer Banking System

AFR sent a letter to members of Congress urging them to co-sponsor and support the 21st Century Glass-Steagall Act. The proposal would narrow the scope of activities that banks are permitted to engage in, and refocus them on their traditional core functions of lending to businesses and individuals. This change would improve the safety of the banking system by simplifying banks’ structure and activities so that they are easier for directors to manage, for regulators to supervise and for investors to evaluate.