Brett Kavanaugh’s ruling, later overturned by the full DC circuit, that an independant CFPB is unconstitutional, is but one powerful indicator of the danger he would pose as a Supreme Court justice. Stripping financial regulators like CFPB of their independence means weaker consumer protections.
There was no evidence before her confirmation hearing that Kathy Kraninger would champion the interests of consumers, and there’s no evidence of it afterwards either.
Congressional Testimony: AFR Policy Director Marcus Stanley testifies to House Financial Services Committee.
On July 17, 2018, AFR Policy Director Marcus Stanley offered testimony at a hearing entitled “Examining Capital Regimes for Financial Institutions,” before the Financial Institutions and Consumer Credit Subcommittee of the House Financial Services Committee.
Letters to Congress: AFR and the AFL-CIO sent a letter to Congress recommending a vote in opposition to S. 488, the JOBS and Investor Confidence Act of 2018.
On July 17, 2018, Americans for Financial Reform and the AFL-CIO sent a letter to Congress recommending a vote in opposition to S. 488 (the “JOBS and Investor Confidence Act of 2018”), which was being considered on the House floor under suspension of the rules.
Letters to Regulators: AFR commented on Federal Reserve, OCC, FDIC proposed rule regarding the implementation of CECL accounting rules.
Americans for Financial Reform sent a letter to the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation commenting on a proposal to phase-in the regulatory capital effects of implementing the new
Letters to Congress: AFR and CFA sent a letter to the House Financial Services Committee regarding eight bills in today’s markup.
View or download PDF version of the letter. July 11, 2018 Dear Representative: On behalf of Americans for Financial Reform (AFR) and the Consumer Federation of America (CFA), we are writing to oppose four of the bills under consideration at today’s markup, HR 3555,
Kavanaugh found that the structure of the Consumer Financial Protection Bureau was unconstitutional but was overturned in a thoughtfully reasoned decision that found many faults with his analysis. Independent agencies, which have existed in the United States for nearly a century, are vital institutions for creating a government that does not only serve wealthy interests.
Letters to Congress: AFR urges House members to oppose harmful financial deregulation in HR 5877 and HR 4537.
Americans for Financial Reform sent a letter to the House of Representatives urging members to oppose the harmful financial deregulation in HR 5877 and HR 4537.
Letters to Regulators: AFR commented on a proposal that would cut the minimum required leverage ratio at the largest U.S. banks.
Americans for Financial Reform sent a letter to the Federal Reserve Board of Governors and the Office of the Comptroller of the Currency to comment on a proposal that would reduce the minimum leverage ratio requirements for the largest U.S. banks. Click here to access
Letters to Regulators: AFR commented on Federal Reserve proposed changes to capital rules to implement new stress buffer requirements.
AFR commented on a Federal Reserve proposal that would integrate the capital requirements in its different capital regimes to institute new stress buffer requirements.