AFREF, alongside 34 other organizations, joined a letter The Consumer Federation of America (CFA) submitted on June 7th to the Securities and Exchange Commission (SEC) raising concerns about the dire state of financial reporting in Corporate America.
AFREF joined a letter to the CFPB calling for greater consumer protections in their final debt collection rules.
AFREF joined our partners in a letter urging the House to pass the Comprehensive Debt Collection Improvement Act to protect vulnerable consumers from abusive debt collection practices.
AFREF, NCLC, and NHLP submitted detailed comments to the CFPB urging the Bureau to strengthen its make necessary improvements to its COVID loss mitigation proposal to protect the most vulnerable borrowers and strengthen protections against foreclosures.
AFREF and 41 organizations sent comments in response to the CFPB’s proposed COVID loss mitigation rule urging the Bureau to make critical improvements to help avoid unnecessary foreclosures and to facilitate streamlined solutions for borrowers facing COVID-19 hardships that will make it possible for them to keep their homes and provide them with the stability they need to recover and rebuild.
Americans for Financial Reform Education Fund wrote the Fed to express concerns over the blow-up of the Archegos family fund. This incident reveals both the dangers of excessive leverage at private funds, and the failure of banking regulators, including the Federal Reserve, to properly regulate bank interactions with such funds. To address these issues, the Federal Reserve must investigate its own regulatory failures in this case and publicly disclose the lessons learned from this investigation, and must also work with the Financial Stability Oversight Council to address the risks of excessive leverage at private funds.
AFREF joined a letter to the Department of Labor detailing ways to improve protections for retail investors.
AFREF joined a letter to the CFPB requesting they prohibit credit reporting of rent arrears incurred during the COVID-19 pandemic
AFREF joined our partners in sending a letter calling on the OCC to carefully scrutinize new partnerships between risky Income Share Agreement companies and banks under OCC supervision. Partnerships like the one between Mentorworks and Blue Ridge Bank have the potential to put borrowers at risk by opening the market to a product that is violating the law & harming borrowers.
AFREF and 17 organizations sent a letter in response to FHFA’s RFI on climate and natural risk management detailing our concerns about the disproportionate impact of climate change and natural disasters on borrowers and communities of color and low and moderate income neighborhoods. We provided recommendations for next steps on FHFA’s work on mitigating climate risk and urged FHFA to make sure climate risk mitigation efforts do not cause inadvertent harm to the communities who are already most vulnerable to the adverse effects of climate change and who face the most challenges in accessing and sustaining homeownership.