Letters to Congress Archives - Page 25 of 41 - Americans for Financial Reform

Letter to Congress: AFR Opposes Current Draft of FSGG Appropriations Bill

“On behalf of Americans for Financial Reform, we are writing to oppose the current draft of the Appropriations bill on Financial Services and General Government (FSGG)…Unfortunately, this appropriations legislation is once again loaded with ideological policy riders aimed at weakening Wall Street oversight…These ideological policy riders would weaken consumer and financial protections and should not in any case be attached to a funding bill. Even as a funding bill, this legislation falls short, as it cuts the SEC’s budget by $100 million…”

Letter to Congress: AFR Urges Congress to Maintain the Integrity of Financial Reporting, Reject HR 4139

“On behalf of Americans for Financial Reform, we are writing to reiterate our opposition to HR 4139, the “Fostering Innovation Act”. This legislation would double the length of the existing exemption from compliance with Sarbanes Oxley Section 404(b) for “emerging growth companies”, from five years to ten years… Ten years is an excessively long exemption. This is especially true given the significance to the public and the financial markets of accurate financial reporting. “

Letter to Congress: AFR, 42 Organizations Call on Congress to Preserve the CFPB’s Authority to Stop Abusive Financial Practices

“The undersigned organizations urge you to oppose H.R. 5112 or any similar bills that dramatically undermine the Consumer Financial Protection Bureau (CFPB) by eliminating its authority to prohibit abusive acts and practices and by imposing unworkable procedural requirements that would make it effectively impossible for the CFPB to write critical rules. “

Letter to Congress: Don’t interfere with proposal to restore consumers’ class-action rights

“This rule is a crucial step to limit big banks’ and other financial companies’ efforts to escape liability if they break the law. Congressional or industry interference with the CFPB’s rulemaking process on forced arbitration would undermine consumer protection for critical financial products and services.”

Letter to Congress: AFR, 254 organizations oppose budget riders that would undermine financial reform

“We… urge you to oppose any funding bills that include provisions rolling back or undermining financial reform. At the end of last year Congress wisely rejected multiple efforts to use the budget process to force through unrelated ideological riders, including changes in financial regulation that would undermine consumer protections, endanger financial security, or reduce accountability for big banks. It is vitally important that members remain committed to opposing such riders again this year. “

Letter to Congress: AFR Calls on the House Financial Services Committee to Let the SEC Do Its Job, Oppose the SEC Regulatory Accountability Act

“On behalf of Americans for Financial Reform, we are writing to express our opposition to the “SEC Regulatory Accountability Act”. Despite the fact that the Securities and Exchange Commission (SEC) is already subject to extensive statutory economic analysis requirements, and has greatly increased its investment in economic analysis in recent years, this legislation would impose a host of unworkable new bureaucratic and administrative burdens on the agency. “

Letter to Congress: AFR Urges Members of the House Financial Services Committee to Protect Investors and Oppose the Investment Advisors Modernization Act

“On behalf of Americans for Financial Reform, we are writing to express our opposition to the “Investment Advisors Modernization Act of 2016”. Far from modernizing the regulation of investment advisors, this legislation would roll back the clock to the years before private fund advisors were subject to elementary oversight measures, measures that numerous documented abuses have shown to be necessary for investor protection. “

Letter to Congress: AFR, 26 Organizations Oppose Inclusion of Discriminatory Auto Lending Language in Appropriations Bill

“We, the undersigned organizations, ask you to oppose harmful riders to the Financial Services and General Government (FSGG) fiscal year 2017 appropriations that would obstruct the Consumer Financial Protection Bureau’s ability to protect consumers. In particular, we urge you to oppose language mirroring S. 2663, the so-called “Reforming CFPB Indirect Auto Financing Guidance Act.” “

Letter to Congress: AFR, 70 Organizations Urge Congress to Reject Any Legislation that Reduces the Authority of the CFPB to Regulate Forced Arbitration

“The undersigned organizations strongly urge the Appropriations Committees to reject all proposals to weaken the powers, structure, or funding of the Consumer Financial Protection Bureau (CFPB or Bureau). And we are writing today to specifically urge the Committees to oppose any proposals that would limit, delay or remove the authority of the CFPB to take action on the use of pre-dispute binding mandatory arbitration – i.e., forced arbitration – in consumer financial contracts under its jurisdiction. “

Letter to Congress: AFR, 52 Organizations Urge Congress to Reject S. 2970, An Impediment to Regulators Efforts to Detect Fraud and Money Laundering

“The undersigned community, consumer and civil rights organizations strongly oppose S. 2790, the Financial Institution Customer Protection Act of 2016, introduced by Senator Cruz. The bill will hamper critical Department of Justice and banking regulator efforts to detect fraud and money laundering, putting consumers and financial institutions at risk of serious financial loss. “