Category Archives: Letters to Congress

Letters to Congress: Support the Nomination of Kristin N. Johnson to Serve as Assistant Secretary for Financial Institutions

AFR and coalition members signed onto a letter urging the Senate to support the nomination of Kristin N. Johnson to Serve as Assistant Secretary for Financial Institutions at the Department of the Treasury. Johnson is a highly accomplished scholar of financial regulation, and has ably worked with stakeholders as a Commissioner of the Commodity Futures Trading Commission promote market stability and integrity, and protect market participants and investors from misleading, deceptive, or fraudulent practices.

Letters to Congress: Support the Nomination of Christy Goldsmith Romero to be Chair and Member of the Federal Deposit Insurance Corporation

AFR and coalition members signed onto a letter urging the Senate to support the nomination of Christy Goldsmith Romero to be Chair and Member of the Federal Deposit Insurance Corporation. Goldsmith Romero led the office of the Special Inspector General for the Troubled Asset Relief Program and has decades of experience regulating financial institutions and markets, broad and deep knowledge of the financial system, and a record of commitment to the public interest.

Letters to Congress: Support the Nomination of Caroline A. Crenshaw to Serve as a Commissioner of the U.S. Securities and Exchange Commission

AFR and coalition members signed onto a letter urging the Senate to support the nomination of Caroline A. Crenshaw to Serve as a Commissioner of the U.S. Securities and Exchange Commission for another term. Commissioner Crenshaw was unanimously confirmed in 2020 and her distinguished service at the SEC fully justified this Senate support. Crenshaw has worked tirelessly and skillfully with all stakeholders to advance the mission of the SEC.

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. 

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.

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

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.

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.

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.

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.