AFR and 40 Organizations Applaud CFPB’s Service to Consumers
AFR joined 40 consumer rights organizations in sending a letter to members of Congress applauding the work of the CFPB over the last three years.
Category Archives: Letters to Congress
AFR Urges Congress to Let Regulators Do Their Jobs, and to Reject HR 5016
AFR sent a letter to members of Congress opposing HR 5016. This bill would place funding restrictions on our financial regulatory agencies. Sections of this bill would undermine consumer protections that are currently in place, weaken Wall Street reforms, and hurt the ability of regulators to do an efficient job protecting the economy.
AFR and More Than 30 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 Opposes Efforts to Make It Easier to Game Stress Tests
AFR sent a letter to members of Congress urging them to oppose the “Federal Reserve Accountability and Transparency Act.” This bill would empower Wall Street to prevent effective Federal Reserve oversight of the nation‟s largest banks.
AFR Supports the Waters and Moore Amendments, Rejects HR 4413
Download the letter here.
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.