Category Archives: Letters to Congress

Letters to Congress: Letter in Opposition of Egregious Deregulatory Bills Scheduled for Markup

AFR and partners led a letter opposing a set of financial institution bills scheduled for markup tomorrow, May 17th in the House. Title I of the first bill (H.R. 8337) is particularly egregious and would result in ~100 banking organizations being removed from CFPB oversight, among other negative consequences for Qualified mortgage requirements, the Durbin amendment cap, the Volcker rule and others. H.R. 758 compromises safety and soundness standards while not addressing the root causes of de novo bank challenges. 

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Letters to Congress: Letter to the House Financial Services Committee in Opposition to Profoundly Damaging Legislation

Americans for Financial Reform (AFR) wrote a letter to the House Financial Services Committee expressing our strong opposition to legislation that the House Financial Services Committee (HFSC) is scheduled to consider this week that would amend the federal securities laws in ways that could be profoundly damaging to American workers and “mom and pop” investors.

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Letters to Congress: Letter to The House Financial Services Committee in Opposition to Legislation That Erodes Consumer Protections

Americans for Financial Reform (AFR) and partners led a letter the House Financial Services Committee (HFSC) to express our opposition to a legislation package that the committee is scheduled to markup this week. The collection of bills would erode consumer protections, enable predatory lenders, and hamstring the Consumer Financial Protection Bureau’s ability to fulfill its mandate

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Letters to Congress: Letter in Opposition to H.R. 5535, the “Insurance Data Protection Act” and the Congressional Review Act Resolutions Against the SEC’s Climate Financial Risk Disclosure Rule and the Climate-Related Financial Risk Management Principles

AFR and partners submitted a letter to the committee urging members to vote down a series of bills and resolutions that would roll back agency rules, guidance, and authorities to address climate-related financial risk.

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Letters to Congress: Letter in Opposition to H.J.Res. 120, a Bill to Obstruct the Financial Stability Oversight Council

AFREF and allies led a letter to oppose H.J.Res.120, a bill to obstruct Financial Stability Oversight Council from carrying out its systemic risk oversight responsibilities based on its systemic risk authority mandated by Dodd Frank. The FSOC’s designation authority is essential for its ability to assess systemic risk, and where necessary, establish oversight of firms that have the potential to propagate and amplify financial shocks throughout the economy, thereby posing real risks of another financial crisis.

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Letters to Congress: Letter in Support of Taking Action to Prevent Additional Bank Failures and Safeguard Consumers

Ranking Member Waters announced today the passage of two key bills in response to the Silicon Valley Bank and other bank failures in 2023. These Democratic-led, bipartisan bills, passed during yesterday’s full committee markup, are “aimed at safeguarding consumers and taking steps to prevent additional bank failures following the collapse of Silicon Valley Bank, First Republic, and Signature Bank last year,” according to today’s announcement.

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Letters to Congress: Letter in Opposition to H.R. 2799, the Expanding Access to Capital Act

AFREF led a sign-on letter in opposition to H.R. 2799, the Expanding Access to Capital Act of 2024, along with the 10 undersigned organizations. Fundamentally, H.R. 2799 weakens regulation of both the public markets and the private markets, making it a bad deal for investors of all types, and a boon to issuers interested in raising capital with the lowest possible degree of disclosure, compliance, accountability, and overall economic inefficiency.

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SEC Building

Letters to Congress: Urging Action on $5 Trillion Exempt Offerings/Private Markets

Americans for Financial Reform today wrote to the House Financial Services Committee’s Subcommittee on National Security, Illicit Finance, and International Financial Institutions urging members to rely on existing authority by the Securities and Exchange Commission (SEC) in order to gain more transparency into the $5 trillion private markets (“exempt offerings” under SEC Rule 144A and Reg D) to address national security concerns.

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Letters to Congress: AFR Letter for the Record in Opposition to a House Ways & Means Committee Anti-ESG Hearing

AFR wrote in opposition to the premise of the House Ways and Means Committee hearing titled “Ensuring what ‘Woke’ Doesn’t Leave Americans Broke: Protecting Seniors and Savers from ESG Activism.” This hearing is part of a much broader, unpopular campaign against common sense investment practices that seeks to force financial actors to ignore a slew of financial risks to the detriment of workers’ retirement security.

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