“It has come to our attention that a Dear Colleague is being circulated asking Members to sign on to a letter to the Department of Labor (DoL) urging the Department, after “determining the specific changes [it] will make to the Rule,” to then provide an additional comment period before promulgating the final conflict of interest rule. We are writing to urge you not to sign on to this letter. “
With a government shutdown narrowly averted and budget negotiations moving into a potentially volatile final stage, more than 160 national, state and local organizations are telling lawmakers and the Administration not to let the process be used to force through ideological spending riders that would block financial reform or undermine the funding or authority of the Consumer Financial Protection Bureau.
“We are writing to urge you to oppose H.R. 3192, which insulates lenders from accountability when they make misleading disclosures to homeowners. The bill, which suspends liability to individuals and government for the first four months after the new mortgage disclosure rules take effect, undermines compliance with the new rules by letting lenders off the hook even where homeowners have been harmed. “
“On behalf of Americans for Financial Reform (AFR), we are writing in opposition to HR 414, the “Burdensome Data Collection Relief Act”. This legislation would eliminate the requirement in Section 953(b) of the Dodd-Frank Act that firms publicly disclose the ratio between the pay of their chief executive officer and the pay of the median worker at the firm. The SEC has recently completed the rulemaking to implement this rule, and investors and the public are now anticipating that that important data will become available. “
“We are writing as organizations that strongly support the Department of Labor’s (DOL) efforts to strengthen protections for working families and retirees by requiring the financial professionals they turn to for retirement investment advice to act in their best interests. As such, we oppose H.R. 1090, the misnamed “Retail Investor Protection Act,” and urge you to vote NO when the bill comes up for a vote in the Financial Services Committee. “
“On behalf of Americans for Financial Reform, we are writing to urge your opposition to HR 957, to establish an independent Inspector General for the CFPB. The proposal would not benefit consumers and, further, is an effort by the committee to make government bigger, not better.”
“We are writing to express our opposition to H.R. 1266 (Rep. Neugebauer), the “Financial Product Safety Commission Act of 2015.” This bill would change the structure of the Consumer Financial Protection Bureau (CFPB); instead of being led by a single director, it would be headed by a Commission of five members…”
“On behalf of the undersigned organizations, we urge you to oppose H.R. 1737, the so-called “Reforming CFPB Indirect Auto Financing Guidance Act.” This legislation is simply an effort to stop the CFPB from enforcing laws against discrimination. H.R. 1737 hides its intent behind a smokescreen of claims about process and regulatory jurisdiction. However, the bill is really about the unfair and discriminatory impact of car dealer interest rate markups. “
“On behalf of Americans for Financial Reform, the leading public interest coalition that supported enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) and its members, including the undersigned, we write both to explain the importance of the Act and to demonstrate its constitutionality. While numerous opponents of financial reform have challenged the act’s constitutionality, none have prevailed, in any court.”
“We are writing to express our concerns about, and in most cases our opposition to, a number of the bills being marked up in the House Financial Services Committee today. The bills we have highlighted below include harmful deregulatory measures that would reduce protections for consumers as well as the financial system as a whole. “