AFR Supports the Waters and Moore Amendments, Rejects HR 4413
Download the letter here.
Category Archives: Letters to Congress
AFR and More Than 25 Orgnizations Support Operation Choke Point and Other Efforts to Fight Payment Fraud
AFR sent a letter to members of Congress urging them to oppose any effort block funding for the Department of Justice’s Operation Choke Point or to weaken other regulator efforts to fight payment fraud. This proposal works to ensure that banks and payment processors comply with longstanding due diligence requirements so that they can avoid facilitating illegal activity by knowing their customers, monitoring return rates, and being alert for suspicious activity.
AFR Urges Congress Not to Undermine the CFPB
AFR sent a letter to members of Congress urging them to reject proposed legislation within the House Appropriations Committee that make CFPB funding through Appropriations, and strip the Bureau of its independence. This change would leave the CFPB vulnerable to financial industry efforts to cut off funding in retaliation for doing its job. Bank regulators have historically been funded outside of the appropriations process to avoid this outcome, which poses serious risks to our financial system and our economy.
AFR Advocates for the CFTC, Urges Congress to Reject HR 4413
AFR sent a letter to members of Congress urging them to oppose HR 4413, “The Customer Protection and End User Relief Act”. This legislation would have a severe negative impact on the CFTC and its ability to police commodities and derivatives markets crucial to our economy.
AFR Advocates for a Simple, Safer Banking System
AFR sent a letter to members of Congress urging them to co-sponsor and support the 21st Century Glass-Steagall Act. The proposal would narrow the scope of activities that banks are permitted to engage in, and refocus them on their traditional core functions of lending to businesses and individuals. This change would improve the safety of the banking system by simplifying banks’ structure and activities so that they are easier for directors to manage, for regulators to supervise and for investors to evaluate.
AFR Urges Congress to Support Investor Protections — Oppose HR 2629, HR 4564, HR 4697
AFR sent a letter to members of Congress, urging them to oppose HR 2629, HR 4564, and HR 4697. These three proposals would reduce investor protections and market transparency without genuinely benefiting sustainable capital formation and job growth.
Preserve Financial Stability Protections — Reject HR 4387 (the FSOC Transparency and Accountability Act) and the FSOC Designation Moratorium Act”
AFR sent a letter to members of Congress urging that they reject HR 4387. The FSOC is crucial to protecting American families and workers from the impacts of a financial crisis. If enacted, this legislation would hinder FSOC operations.
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 and Organizations Urge Members of Congress to Defend the CFPB
AFR and more than fifteen organizations submitted a letter to members of the House Financial Services Committee, calling on them to defend the CFPB from specific legislative attacks.
AFR Opposes House Bills That Would Weaken The CFPB
AFR sent a letter to members of the House Financial Services Committee today, urging their opposition to a series of anti-CFPB bills being discussed by the committee. The eleven measures under discussion would weaken the CFPB in a variety of ways and make it nearly impossible for the agency to do its job. The bills are part of a continuing pattern to mischaracterize the CFPB’s organization and processes, and if adopted, would harm consumers. The package of legislation being considered also includes a frontal attack on the Bureau’s authority to consider the impact of forced arbitration clauses on consumers—a bill that would eliminate consumers’ access to courts and force them into a rigged and secretive system to settle disputes.