Letters to Regulators: AFREF Comment on CFPB Proposal to Collect Small Business Lending Data to Enforce Fair Lending Laws
AFREF submitted a comment on the CFPB’s proposal to collect small business lending data to enforce fair lending laws.
Category Archives: Education Fund
Letters to Regulators: Comment Letter in Response to CFPB’s Inquiry into Big Tech Payment Platforms
AFREF joined a letter to the CFPB in response to their inquiry into Big Tech payment platforms. The letter urges the CFPB to require person-to-person payment providers to protect consumers from fraud and errors, and to work with the Federal Reserve Board to ensure protections are in place before the Fed launches its new FedNow person-to-person service.
Letters to Regulators: Letter Urging CFPB Oversight of New Products like Buy Now, Pay Later (BNPL) Loans, Income Share Agreements, Cash Advances, “Fintech” Overdraft or Overdraft Avoidance Products, and Earned Wage Access Products or Look-Alike Products
AFREF joined a letter urging CFPB oversight of new products like buy now, pay later (BNPL) loans, income share agreements, cash advances, “fintech” overdraft or overdraft avoidance products, and earned wage access products or look-alike products that are evading consumer protection laws and creating debt traps for consumers. The letter states that the CFPB should supervise providers and ensure that each of these products are complying with applicable consumer protection laws.
Letters to Regulators: Second Comment Letter in Response to CFPB’s Inquiry into Big Tech Payment Platforms
AFREF, American Economic Liberties Project and Revolving Door Project sent a letter to the CFPB in response to their inquiry into Big Tech payment platforms. The letter expresses concern about Big Tech exploitation of digital payments technology, and expresses support for their recently opened inquiry into Big Tech’s power in this vital and growing market.
Letters to Regulators: AFREF Joins More Than 100 Groups Calling on CFTC to Shut Down Dangerous Water Futures Market
AFREF joined more than 100 groups in a letter calling on the CFTC to shut down the dangerous water futures market.
Letters to Regulators: Letter Urging FSOC to Take Action Against Stablecoin Issuers
AFREF led a letter urging the Financial Stability Oversight Council (FSOC) as the coordinating body for several regulatory agencies to imminently take action against the various misdeeds that may be conducted by the issuers of stablecoins. The letter explains that such urgency cannot be overstated given how quickly the market continues to grow, posing greater threats to the broader financial system.
News Release: OCC Seeks Input on Climate Risk Management for Large Banks
Americans for Financial Reform Education Fund (AFREF) applauds the Office of the Comptroller of the Currency (OCC) for seeking comment on this strong first draft of principles to guide large banks on how to manage the risk that climate change poses to their safety and soundness.
News Release: AFREF and Partners Submit Comments On Labor Department Proposal to Allow Retirement Plans To Consider Sustainability, Jobs, Equity, Workers
Americans for Financial Reform Education Fund (AFREF) submitted comments to the Labor Department supporting a proposed rule that will allow and encourage private retirement plans and pensions to consider sustainability factors like climate change, workers’ rights, racial, economic and environmental justice, and corporate governance when investing and voting proxies.
Letter to Regulators: Letter Calling on Regulators to Halt Bank Mergers
AFREF led a letter to regulators stating that the laissez-faire stance adopted by the Department of Justice and the federal bank regulators and current merger guidelines have hurt small businesses, community banks, and households, especially those in BIPOC communities. The letter urges regulators to temporarily halt consideration of pending bank mergers until the DOJ and banking agencies adopt a plan that strengthens the guidelines to protect consumers.
Letters to Regulators: AFREF, Sierra Club and 13 Partners Support DOL Sustainable Investing Proposal, Urge Further Action
Americans for Financial Reform Education Fund and Sierra Club were joined by 13 organizations in a comment letter to the DOL supporting a proposal to encourage fiduciaries to consider climate change and ESG factors, and calling for further actions to standardize sustainable investing for private retirement plans and pensions.