Letters to Congress Archives - Page 39 of 48 - Americans for Financial Reform

AFR and More Than 200 Organizations Sign Letter Supporting Mortgage Forgiveness Tax Relief Act

More than 100 organizations joined AFR in signing a letter in support of the Mortgage Forgiveness Tax Relief Act. This crucial piece of legislation would protect homeowners who receive principal reduction modifications from devastating tax consequences is set to expire on December 31, 2013, just as the government’s recent settlement with JP Morgan Chase promises additional principal write downs. Congress must act swiftly to extend this legislation.

AFR and 30 Member Groups Sign Letter Opposing Bills to Gut CFPB

“Legislation under consideration in the Financial Services Committee would harm the CFPB’s ability to protect the public in a variety of ways . We urge you to oppose each of these bills and any similar proposals designed to hobble the CFPB and prevent it from doing its job.”

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

AFR joined twenty public interest, consumer, and labor organizations in sending 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.

Materials on Swaps Pushout

AFR opposes HR 992, legislation which would change the law to permit public support of swaps dealing activities at some of the largest banks on Wall Street. At a time when there is bipartisan agreement that subsidies to too-big-to-fail banks must end, this legislation moves in exactly the wrong direction.

Materials on Fiduciary Duty of Financial Advisors

AFR stands with many of our partner organizations in opposition to HR 2374, which would delay needed reforms that would protect middle-class savings and help to restore needed confidence in our financial markets. Here is a compilation of materials on the issue of HR 2374.

Support Investor Protections, Oppose HR 2374

This legislation would prevent the Department of Labor from addressing flaws in protections for retirement savings, protections that have not been updated for almost forty years. It would also delay efforts of the Securities and Exchange Commission to raise the standard of conduct that applies to brokers when they give advice to retail investors.

House Bill Would Smother Derivatives Reform in Phony Cost-Benefit Analysis

AFR letter sounds the alarm against HR 1003, which would undermine Dodd-Frank by more than doubling the number of cost-benefit analysis requirements imposed on the Commodity Futures Trading Commission (CFTC).

Praise for Ellison Bill to End Mandatory Arbitration in Investor Disputes With Brokers and Advisors

Under current practice, investors seeking brokerage and other financial advisory services must agree in advance to submit any complaints to arbitration by an industry-run regulatory body. The Investor Choice Act would restore the right of investors to take such disputes to a court of law, if they prefer.

AFR and 36 Co-Signers Oppose Senate Bill to Undermine European Financial Transaction Tax

Senator Pat Roberts (R-Kan.) has introduced legislation directing U.S. companies to refuse to comply with the proposed tax. Rather than trying to obstruct the EU proposal, “U.S. elected officials should be considering the potential benefits that such taxes could deliver for this country.”

Protect Retirement Savings: Let the Department of Labor Do Its Job

AFR joined AARP, AFL-CIO, Consumer Federation of America, Demos, Pension Rights Center, Public Citizen, and U.S. PIRG in sending a letter to members of the Senate urging them not to sign a letter being circulated by Senator Tester attempting to stop a Department of Labor rule making to protect retirement savings by closing gaps and loopholes in fiduciary duty requirements in connection with ERISA funds.