Fact Sheet: Deregulation at the Powell Fed
Federal Reserve Board Chair Jerome Powell has presided over a broad deregulatory agenda that has made our financial system less resilient and driven rising wealth and income inequality.
Federal Reserve Board Chair Jerome Powell has presided over a broad deregulatory agenda that has made our financial system less resilient and driven rising wealth and income inequality.
AFREF and MHAction submitted joint comments on Fannie Mae and Freddie Mac’s duty to serve plans and urged the Enterprises to better protect manufactured housing residents from corporate abuses and increase financing opportunities for mission driven owners.
AFREF submitted a comment to the Federal Reserve on its “Proposed Guidelines for Evaluating Account and Service Requests” urging the Federal Reserve to limit access to its payments systems to well-regulated and well-supervised depository institutions to safeguard rules that protect consumers, ensure the stability of the payments system, and require community reinvestment.
AFREF joined a letter to the Office of Management and Budget in response to their RFI asking for input on how to identify effective methods for assessing whether agency policies, programs, services, processes, and operations equitably serve all eligible individuals and communities, particularly those that are currently and historically underserved.
AFREF joined partners in sending a letter with detailed recommendations in response to the joint RFI on financial institutions’ use of AI and ML.
AFREF sent a letter to the Department of Education calling for several topics to protect borrowers in the upcoming negotiated rulemaking, and also urging the Department to administratively cancel student debt.
AFREF joined a letter urging the Department of Education to include several topics that would protect borrowers in the upcoming negotiated rulemaking.
AFREF joined a letter urging HUD to provide 12 months forbearance to FHA-insured borrowers who start their forbearance plans after July 1, 2021.
AFREF and 22 organizations submitted comments in response to the regulators’ Request for Information and Comment on Financial Institutions’ Use of Artificial Intelligence, including Machine Learning, urging the financial regulators to consider fair lending risks of using artificial intelligence and machine learning and enact safeguards to prevent disproportionate adverse impacts from the use of AI/ML models.
AFREF, NCLC, CRL and NHLP sent a letter in support of the Improving FHA Support for Small Dollar Mortgages Act. This bill will increase access to sustainable mortgage lending for homebuyers who are buying homes with sale prices under $100,000.