“The undersigned consumer groups oppose the Taking Account of Institutions with Low Operation Risk Act of 2015 (H.R. 2896) and amendments that will put consumers at risk from dangerous products or practices and undermine the established notice and comment process in place for financial regulations. “
“We, the undersigned groups, are writing to express our support for the “Whistleblower Augmented Reward and Nonretaliation (WARN) Act of 2016”, introduced by Ranking Member Cummings and Senator Tammy Baldwin. This common-sense legislation would provide updated financial incentives and stronger anti-retaliation protections for industry insiders who blow the whistle on bank fraud.”
” On behalf of Americans for Financial Reform (AFR), we are writing to express our strong opposition to HR 1675, the “Encouraging Employee Ownership Act of 2015”. This legislation contains five provisions, four of which would significantly harm the ability of the SEC to protect investors. At a time when markets are turbulent and investment products are growing ever more complicated, Congress should not act to make financial markets even more dangerous for investors.”
“The undersigned community, consumer and civil rights organizations strongly oppose H.R. 766, the Financial Institution Customer Protection Act of 2015, introduced by Representative Luetkemeyer. 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.”
“The undersigned civil rights, consumer, labor, faith, veterans, seniors, and community organizations, strongly urge you to oppose H.R. 4018, the “Consumer Protection and Choice Act.” This harmful bill would limit the Consumer Financial Protection Bureau’s (CFPB) ability to protect all consumers against high-cost payday, car title, and installment loans… H.R. 4018 would allow the payday industry to avoid federal regulation altogether by pushing an industry-backed proposal based on a Florida law that has proven ineffective at stopping the payday loan debt trap.”
“Those who backed the CFPB’s creation and support its work overwhelmingly agree that one director is the preferred structure. Those who push hardest for a change to a commission opposed the creation of a consumer protection agency at the outset. Consumer advocates are united in their support for the current structure. This is not a case of the public demanding “reform.” Rather, it is a campaign manufactured by the very Wall Street banks, payday lenders, and other financial firms the CFPB was created to regulate. We urge you to defend a strong CFPB and to reject proposals to change the leadership structure, weaken the funding, narrow the authority, or otherwise hobble the effectiveness of this crucially important agency.”
“We are writing in advance of this week’s mark-up to express our concerns regarding two of the bills scheduled for consideration – H.R. 2187, the Fair Investment Opportunities for Professional Experts Act and H.R. 3784, the SEC Small Business Advocate Act. Both bills require significant amendments, described below, to ensure that they do not undermine essential investor protections. Unless those changes are adopted, we urge you to oppose these bills.”
“We are writing to urge you to tell both your leadership and appropriators that you strongly oppose any rider that will directly or indirectly defund, delay or otherwise interfere with the Department of Labor’s ability to finalize its rule requiring retirement investment advice to be in the best interest of investors…. Every additional day of delay adds to the losses that working families and retirees suffer because of financial advice that is not in their best interests. We urge you to let both your leadership and appropriators know that you stand with your hard-working constituents who are doing their best to save for retirement—and against any rider that would diminish their efforts. “
“Earlier this year, Senate Banking Chair Richard Shelby introduced the “Financial Regulatory Improvement Act of 2015” — a massive bill that gives a preview of the kind of regulatory rollbacks the financial industry will try to attach to end-of-year funding bills. In fact, Senator Shelby has already placed the entire bill into appropriations legislation that passed the relevant committee earlier this year.”
“The undersigned organizations write to urge you to oppose H.R. 1210 (the “Portfolio Lending and Mortgage Access Act”). This bill makes two harmful changes to the Dodd–Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) and its implementing regulations: It takes a special exemption designed for more trustworthy small and rural banks and extends it to all banks, regardless of size or trustworthiness and it substantially weakens the Act’s ban on loan steering—a practice that supports predatory lending and racial discrimination.”