Category Archives: Education Fund

A book titled "Consumer Protection" on a desk with a gavel resting on top

Letters to Regulators: Letter Opposing the PCAOB’s Rushed Rule Weakening Auditor Independence Standards

Americans for Financial Reform Education Fund signs onto a letter from Consumer Federation of America opposing the PCAOB’s proposal to weaken auditor independence standards. The proposed rule will undermine investors’ faith in the reliability of financial disclosures, and risk the integrity of our capital markets. Furthermore, the PCAOB has abused process by adopting these changes without opportunity for public comment and hurrying the SEC approval process without justification. The undersigned urge the SEC to deny the requested rule change.

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lawyer signing a document Photo by Helloquence on Unsplash

Letters to Regulators: Letter Urging HUD to Take Action to Protect Borrowers in Upcoming LIBOR Transition

Americans for Financial Reform Education Fund, Center for Responsible Lending, National Consumer Law Center, National Fair Housing Alliance, and Student Borrower Protection Center sent a joint letter urging HUD to transition to the Secured Overnight Financing Rate (SOFR) and share its LIBOR transition plan as soon as possible. This transition plan should include providing direction to housing counselors about the process and a targeted outreach plan to provide borrowers and all stakeholders with timely, accurate information so that they know what to expect in the months to come. 

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Letters to Regulators: Comment Letter to the CFPB on the Equal Credit Opportunity Act

AFREF and 47 organizations submitted comments on the CFPB’s RFI on the Equal Credit Opportunity Act (ECOA) and Regulation B. Our comments urged the Bureau to take no action that would weaken the ECOA in any way and consider certain steps to improve and strengthen fair lending protections under ECOA to make it stronger and more effective tool for fighting credit discrimination.

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Letter to Regulators: Letter to the Small Business Administration urging them to maintain strong information collection requirements under the Paycheck Protection Program

Americans for Financial Reform Education Fund (AFREF) and Main Street Alliance (MSA) respectfully urge the Small Business Administration (SBA) to maintain the information collection under the Paycheck Protection Program (PPP) new Loan Necessity Questionnaire for recipients and encourage the SBA to support robust supplemental disclosure requirements for PPP recipients.

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sign for the CFPB outside a building

Joint Letter: Letter to CFPB Opposing Reorganization of its Division on Supervision, Enforcement and Fair Lending

Americans for Financial Reform Education Fund joined our partners in sending a letter signed by 83 groups opposing the Consumer Financial Protection Bureau’s proposed reorganization of its Division of Supervision, Enforcement and Fair Lending because it would drastically weaken the office’s authority independence, and effectiveness, and leave consumers vulnerable to harm.

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Letters to Regulators: Letter to the U.S. Department of Justice Regarding the Bank Merger Competitive Review Guidelines.

Americans for Financial Reform Education Fund submitted a comment letter asking the Department of Justice to protect the public interest from ever larger banks exercising market power to impose higher costs on consumers, reduce the volume or quality of banking services, and from becoming so large that they pose a risk to the entire financial system and real economy.

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