Letters to Congress Archives - Page 34 of 42 - Americans for Financial Reform

Joint Letter to Congress: Consumer Groups Urge Congress to Reject Harmful Auto Financing Legislation

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 Letter to Congress: AFR Opposes HR 5471, Expanding Exemptions To Derivatives Rules

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.

Letter to Congress: AFR and 8 Allies Warn Against Weakening Credit-Reporting Protections

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 Opposes Weakening CFPB Supervision of Large Banks

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.

Do Not Weaken Dodd-Frank Mortgage Protections – Oppose HR 3211

AFR and more than twenty public interest, consumer, and labor organizations sent a letter to members of Congress urging them to oppose HR 3211. This legislation would reopen the door to the higher fees borrowers faced in the lead up to the mortgage crisis.

AFR Opposes HR 4, Urges Congress to Protect Investors

AFR sent a letter to members of Congress urging them to reject HR 4, “Jobs for America Act,” focusing in particular on the portion of the bill that would roll back new registration and reporting requirements for private equity fund advisors that have already uncovered widespread abuses by the industry.

AFR Urges Congress to Reject HR 5405 and the Insurance Capital Standards Act of 2014

AFR sent a letter to members of Congress urging that they oppose HR 5405 and The Insurance Capital Standards Act of 2014. These pieces of legislation include numerous technical changes that could have significant impacts on regulators ability to enforce new financial rules, and they deserve full debate and consideration from regulatory experts before being passed under suspension of the rules.

AFR and Allies Call for Congressional Action on Student Loan Products and Servicing

“Against the backdrop of $1.2 trillion dollars in outstanding student loan debt that is currently dragging on individual borrowers and the economy more broadly, it is imperative that our federal lawmakers take steps to change banking and financial firm practices that contribute to that debt burden.” – joint letter to Senate Committee on Banking, Housing, and Urban Affairs.

AFR Urges Congress to Reject HR 5018

AFR sent a letter to members of Congress, urging them to reject HR 5018. This legislation would dramatically reduce the ability of the Federal Reserve to effectively regulate Wall Street banks and financial institutions by imposing complex cost benefit requirements that must be satisfied before any rulemaking can take place.

AFR Opposes Deregulatory Legislation in House Financial Services Committee

AFR sent a letter to members of Congress urging them to reject HR 3913, HR 4042, HR 5148, and HR 5018. These pieces of legislation contain dangerous deregulatory measures that would harm consumers.