Treasury Secretary Janet Yellen should prioritize repealing the 2019 Trump-era guidance that prevents federal regulators from properly policing institutions whose collapse would imperil the financial system.
AFR joined a letter to Congress in support of The Reforming Disaster Recovery Act.
AFREF and 30 allies sent a letter to Secretary of the Treasury Janet Yellen urging her to prioritize restoring FSOC’s ability to fully execute its authority under the Dodd-Frank by repealing the SIFI 2019 guidance; developing a data strategy for OFR; and using the statutory authority given in Title I of Dodd-Frank to apply a racial equity lens when designating a non-bank financial company as a SIFI.
AFREF submitted comments to the National Credit Union Administration on its strategic plan for 2022-26, urging further incorporation and consideration of climate change, environmental, economic, and racial justice within its strategic goals and regulatory agenda.
AFREF led a letter calling on the SEC’s Division of Corporation Finance to rescind the 2010 Ford Motor Credit no-action letter that exempts Credit Rating Agencies from legal liability.
The nomination of the highly qualified Sarah Bloom Raskin, Lisa Cook, and Philip Jefferson to the Fed is a very welcome step forward towards a better-regulated Wall Street. The Fed needs to steer a new course that begins with a reversal of the deregulation of the Trump era. This work must continue with pro-active regulation and supervision of Wall Street.
AFR joined a letter to Congress in support of Sandra Thompson’s nomination to be director of FHFA.
AFREF joined a letter to FHFA calling on the agency to rededicate itself to improving language access in mortgage origination and servicing.
AFREF submitted a comment letter to the Securities and Exchange Commission supporting several changes to Rule 10c-1 of the Securities Exchange Act of 1934 that would provide investors and regulators with significantly more information into the currently opaque $1.5 trillion securities lending market.
AFREF submitted a comment on the CFPB’s proposal to collect small business lending data to enforce fair lending laws.