AFR Ed Fund, NCLC, CRL, NCST and NHLP sent a letter to the CFPB with our recommendations for a loss mitigation framework that will allow servicers to offer COVID streamlined modification options while maintaining adequate protections for borrowers in the process.
AFREF joined a letter urging the CFPB and the FTC to take immediate action to prevent or limit imminent rental evictions and home foreclosures in the private mortgage market.
New Report: Where the Rubber Meets the Road: How a global tire titan got millions in pandemic small business loans
Case study of a South Carolina tire factory owned by a global corporation that received a substantial loan from the Small Business Administration for pandemic relief while many genuinely small businesses were unable to access the program.
Letters to Regulators: AFR Ed Fund Supports SEC Move to Reform Treasury Markets; Calls for More Action
AFR Education Fund sent a comment to the SEC supporting the proposed elimination of regulatory exemptions in government securities markets. The letter also calls for the SEC to make further reforms in fixed income markets.
AFREF joined a letter to FHFA on the importance of accurate and reliable appraisals and putting in place safeguards to protect against improper valuations and racial discrimination.
AFR Education Fund joined a letter to CFPB acting director Dave Uejio that highlighted actions the Bureau can take to address systemic discrimination in the credit markets. The letter outlined issues the Bureau can address immediately and in the long term in line with its focus on racial equity.
AFR Ed Fund joined our colleagues to send a letter opposing the National Credit Union Administration’s proposal to permit federal credit unions to leave negative account balances open for longer than the current limit of 45 days without any limits on overdrafts, overdraft fees, or NSF fees that can be assessed during this period. This proposal fails to consider the substantial risks it poses on credit union members who are facing economic challenges during the pandemic by exposing them to additional fees that only compound their financial distress.
New Release: AFREF Statement: Consumer, Civil Rights, Housing and Small Business Groups Urge the Federal Reserve Board to Strengthen Community Reinvestment Act Framework with Focus on Increasing Equity in Bank Investments and Access to Sustainable Credit for Communities of Color and Low and Moderate Income Families
Americans for Financial Reform Education Fund (AFREF) and 20 consumer, civil rights, small business, and other public interest partners submitted a comment letter to the Federal Reserve Board of Governors (FRB) on its Advance Notice of Proposed Rulemaking to modernize the Community Reinvestment Act (CRA).
Letters to Regulators: Letter in Response to the Federal Reserve Board’s ANPR on the Community Reinvestment Act
Americans for Financial Reform Education Fund organized a letter to the Federal Reserve Board (FRB) in response to their advanced notice of proposed rule making (ANPR) on the Community Reinvestment Act (CRA). The letter outlined a number of guiding principles and approaches to ensure that any changes to the CRA framework would be limited to measures that will increase equity in bank investments and access to sustainable, wealth-building credit in underserved communities as the statute intended.
AFREF joined a letter urging the CFPB to take immediate action to prevent a wave of Covid-19-related foreclosures, likely to be concentrated in low-income communities and communities of color.