AFR joined 23 organizations in sending a letter to members of Congress, urging them to oppose HR 50. This legislation would make it even more difficult for agencies to implement laws already enacted by Congress.
AFR and 43 additional organizations sent a letter to members of Congress urging them to oppose any efforts to dismantle, weaken, or change the structure of the CFPB, which was established by Congress to ensure that markets work in an open, transparent, and fair way for consumers. Failure to appropriately regulate the consumer financial marketplace was a central cause of the financial crisis that devastated the U.S. and global economies; the CFPB is a shining success story of the efforts to correct the mistakes and close the gaps that led to that failure. The letter urges members of Congress to support the CFPB in fulfilling its consumer protection mission, rather than undermine it.
AFR sent an updated letter to members of Congress, urging them to oppose HR 37, “Promoting Job Creation and Reducing Small Business Burdens Act.” This legislation includes numerous changes that could have significant negative impacts on regulators ability to police the financial markets so that they function safely and transparently.
AFR sent a letter to members of Congress, urging them to oppose HR 185, the “Regulatory Accountability Act.” This legislation would hamstring agencies charged with the oversight of our largest banks by requiring them to comply with a host of additional bureaucratic and procedural requirements designed to make effective action virtually impossible.
AFR sent a letter to members of Congress urging them to reject HR 26, the “Terrorism Risk Insurance Act.” This legislation contains the inclusion of an irrelevant provision that would weaken financial regulatory protections by banning the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) from any oversight of margin and collateral for derivatives transactions with commercial end users.
AFR sent a letter to members of Congress, urging them to oppose HR 37, “Promoting Job Creation and Reducing Small Business Burdens Act.” This legislation includes numerous changes that could have significant negative impacts on regulators ability to police the financial markets so that they function safely and transparently.
AFR sent a letter to members of the House urging opposition to H.R. 5403, the “Reforming CFPB Indirect Auto Financing Guidance Act.” This legislation places unnecessary restrictions on the CFPB’s oversight of auto financing practices— restrictions that do not exist for any other financial practice and are designed to chill the agency’s attempts to bring fairness and transparency to the auto lending market.
AFR sent a letter to members of Congress urging them to oppose HR 5471. This legislation would amend the Dodd-Frank Act to expand exemptions from derivatives clearing requirements for financial affiliates of commercial entities.
AFR joined eight other organizations in sending a letter to members of Congress, urging that they reject HR 5446. The bill would exempt the big credit reporting agencies and debt collectors from coverage by the Credit Repair Organizations Act, which prohibits anyone offering credit repair services from engaging in fraud or deception. The exemption would make it easier for the companies to promote expensive and largely useless credit monitoring products.
AFR sent a letter to House and Senate members asking them to oppose S. 2732, the “Consumer Financial Protection Bureau Examination and Reporting Threshold Act of 2014.” This legislation would increase from $10 billion to $50 billion the asset threshold for “large banks” subject to supervision by the CFPB, dramatically reducing the number of large banks supervised by the CFPB threatening harm to the hundreds of millions of consumers who are beginning to benefit from effective oversight of these institutions.