Category Archives: Letters and Statements

Guest Blog: Do Not Revamp or Defund the CFPB

Congressional Republicans have moved on to their next target for financial deregulation: Republicans in Congress and the consumer finance industry want to eliminate or hobble the Consumer Financial Protection Bureau. The agency has provided $16 billion in restitution or cancelled debt to 192 million consumers since the agency began operation in 2010. It’s one of the few institutions, public or private, that has earned Americans’ confidence in a long time.

Blog: Fed Should Ignore Megabank Lobby and Strengthen Capital Rules

As the Federal Reserve prepares new capital rules for American banks, Wall Street is rolling out its misdirection and bad arguments – as it has for much of the past decade – about why they should not be required to steel themselves against a crisis or downturn. And once again, regulators and Congress must be prepared to ignore their histrionics and strengthen capital requirements.

Blog: CFPB Supreme Court Case Draws Greater Attention as Threat to Federal Reserve

The gravity of what will be a landmark Supreme Court case involving the funding of independent agencies has become increasingly apparent to observers of the judiciary. Numerous media reports have highlighted how the case, aimed at the Consumer Financial Protection Bureau, threatens to upend the funding for many federal agencies, above all the Federal Reserve.

Letters and Statements: Letter to IOSCO on Voluntary Carbon Market Oversight

The International Organization of Securities Commissions (IOSCO) seeks comment on a Voluntary Carbon Markets Discussion Paper issued to advance the discussion about what sound and efficient Voluntary Carbon Markets should look like and what role financial regulators may play in promoting integrity in those markets. Americans for Financial

SEC Building

Letters to Regulators: SEC Climate Disclosure – New Developments February 2023

We are writing on behalf of Public Citizen, Americans for Financial Reform Education Fund, and Sierra Club to supplement the information provided in previous comments we submitted. The purpose of this letter is to highlight a number of recent developments that further strengthen the rationale for the proposed rule.

As explained in our attached summary of developments related to climate-related financial risk, dramatic changes ushered in by the Inflation Reduction Act, the Russian invasion of Ukraine, and global market trends more generally, are accelerating a rapid transformation in the investment landscape.