AFR Opposes S. 949
AFR sent a letter to members of Congress opposing S. 949, legislation which promotes steering borrowers into more expensive loans.
Category Archives: Financial Reform News
Priorities for the CFPB
AFR sent a letter to the CFPB commending their excellent work, and listing a set of issues that we feel should become priorities for the bureau in the future.
AFR in the News: Getting Specific on Capital Requirements
The Dodd-Frank Act, Mike Konczal points out on washingtonpost.com (5/6/13), left it to regulators to decide how much capital banks must set aside. And U.S. regulators have ceded much of the task to the international panel of bank overseers working on the standards known as
AFR in the News: Derivatives Vote Could Ignite Debate on Dodd-Frank Fixes
Under H.R. 677, the CFTC loses its jurisdiction over inter-affiliate swaps, which are defined so loosely that, according to AFR’s Marcus Stanley, “the affiliates don’t even need to share majority ownership… That’s a big, whopping exemption.”
AFR in the News: Advocates Urge SEC to Start Fresh on JOBS Act Rule
“Think of the precedent… rushing forward with the aspects of the rule supported by industry while offering the faint possibility that the commission might one day get around to addressing the concerns raised by investors.”
Talking Points
Confirm Richard Cordray as Director of the CFPB THE CONSUMER FINANCIAL PROTECTION BUREAU’S WORK IS CRUCIALLY IMPORTANTThis is the agency created after the 2008 financial crisis to establish basic rules of fairness and transparency for mortgages, credit cards, student loans, auto loans, debt collection and
Effective Regulation of Executive Compensation Needed
AFR joined more than twenty public interest groups in sending a letter to SEC Chairman Mary Jo White advocating for effective regulation of executive compensation.
Letter to SEC Chairman Urges Additional Investor Protections in JOBS Act Rulemaking
AFL-CIO, AFR, and Consumer Federation of America sent a letter to SEC Chairman Mary Jo White arguing that the Commission needs to re-propose the general solicitation rulemaking for the JOBS act in order to incorporate basic investor protections not included in the proposed rule.
AFR in the News: Foreign Banks Gear up to Pressure the Fed
The Federal Reserve has heard plenty from U.S. banks about what’s wrong with various proposed pieces of Dodd-Frank rulemaking. Now, according to Kate Davidson of Politico Pro (April 15), the Fed is “getting an earful from foreign banks and their regulators, too.”
Letter to President Obama Supporting “Gainful Employment” Requirement for Education Programs
AFR joined more than 40 organizations in sending a letter to President Obama supporting prompt rulemaking to effectively enforce the “gainful employment” requirement for career education programs.