Education Fund Archives - Page 7 of 37 - Americans for Financial Reform

Letters to the Regulators: Letter in Support of the Financial Accounting Standards Board’s Expense Disaggregation Proposal

Americans for Financial Reform Education Fund submitted a comment letter to the Financial Accounting Standards Board (FASB) in support of its proposal to require public companies to disaggregate certain costs from expense captions, with a focus on the disaggregation of employee compensation costs. AFREF made a series of recommendations to improve these disclosures, including recommendations to include workers beyond employees in the disclosures.

Letters to Congress: Letter in Support of Tanya Otsuka’s Nomination to Serve on the National Credit Union Administration Board

View or download a PDF of the letter here. AFR and other coalition members signed onto a letter supporting Tanya Otsuka to Serve on the National Credit Union Administration (NCUA) Board. Ms. Otsuka has dedicated her career to creating a more stable and equitable financial

Events: Jake Bittle and The Great Displacement: a Conversation about Housing Displacement and Climate Change

Jake Bittle and The Great Displacement: a Conversation about Housing Displacement and Climate Change On September 26, 2023 Americans for Financial Reform Education Fund hosted Jake Bittle, author of “The Great Displacement: Climate Change and the Next American Migration” along with housing experts and community

Letters to the Regulators: Letter in Support of the FTC’s Proposed Rulemaking for Premerger Notification, Reporting, and Waiting Period Requirements

AFREF submitted a comment supporting the Federal Trade Commission’s proposed rule to require complex companies including private equity firms to disclose more information about their holdings and business lines when pursuing mergers and acquisitions.

Letters to the Regulators: Letter in Support of Proposed Revisions to the Suspended Counterparty Program

AFREF and the National Housing Law Project submitted a comment to the FHFA in support of their proposed revisions to the Suspended Counterparty Program.

Letters to the Regulators: Letter in Support of Proposed Merger Guidelines

Americans for Financial Reform Education Fund sent a letter commending the Federal Trade Commission and Department of Justice for developing a robust, accessible update to the merger guidelines

Letters to Congress: Letter in Support of the Credit Card Competition Act of 2023

Americans for Financial Reform sent a letter to the House Financial Services Committee and the Senate Banking Committee supporting the Credit Card Competition Act of 2023. The Credit Card Competition Act will introduce much needed competition in a captured market and benefit consumers.

Events: Alexa Philo, AFR’s Senior Policy Analyst, Testifies Before the House Financial Services’ Subcommittee on Financial Institutions and Monetary Policy

Increased capital requirements in the Fed, FDIC, and OCC’s Large Bank proposal strengthen the banks’ ability to withstand stresses that would otherwise imperil their financial viability and hurt depositors, customers and the economy. Robust capital levels prevent financial crises that have vastly disproportionate impacts on Black, LatinX and other underserved communities. AFR strongly urged the agencies to move forward on these proposals as more well-capitalized banks are better able to provide credit to customers and communities, advancing economic justice and helping the economy to work better for everyone.

Letters to Congress: Letter of Opposition to Four Anti-ESG Legislative Proposals

AFR sent a letter in opposition to four legislative proposals that the House Committee on Education and the Workforce is scheduled to consider at its September 14th Full Committee Markup. These bills’ amendments to the Employee Retirement Income Security Act (ERISA) would undermine workers’ retirement security and are part of a broader political campaign against common sense investment practices. The campaign seeks to force financial actors to ignore a slew of financial risks regardless of the consequences for workers’ retirement security and the integrity of our financial system.

Letters to the Regulators: Letters to the Financial Stability Oversight Council in Support of Increased Supervision of Nonbank Companies and Revising the Analytic Framework for Assessing Financial Stability Risk

AFREF submitted comment letters to the Financial Stability Oversight Council (FSOC) on two proposals that would strengthen its toolbox for addressing threats to financial stability, including those related to climate change, and make it easier to designate nonbank companies like asset managers and insurance companies as systemically important institutions that need enhanced regulation by the Federal Reserve Board.

The letters detail how threats to financial stability from nonbank financial institutions are growing, and it encourages FSOC to quickly strengthen and finalize its proposals to be able to respond effectively and proactively to emerging risks. Many nonbank financial institutions already face heightened stress from large climate-related shocks, including several major insurers’ recent decisions to withdraw coverage from many states and zip codes. Insurance companies, asset managers, private equity firms, and other nonbank financial institutions are also creating significant risks to the financial system through their insured or financed emissions — risks that are often forced upon other financial institutions and consumers who will struggle to manage them.