Letters to Congress Archives - Page 39 of 49 - Americans for Financial Reform

AFR Defends CFTC, Opposes “Customer Protection and End User Relief Act”

AFR sent a letter to members of Congress urging them to oppose “The Customer Protection and End User Relief Act.” This legislation would place significant new barriers in the way of effective oversight of commodities and derivatives markets crucial to our economy, barriers not faced by any other regulatory agency. The new statutory ‘cost benefit’ restrictions it places on CFTC rulemaking would enable financial industry interests to indefinitely delay and possibly overturn regulations, even where Congress has clearly directed the regulators to act, and where regulation is sorely needed to protect the public interest.

AFR Letter Opposes HR 4167 – Do Not Create Loopholes in Volcker Rule Risk Protection

AFR sent a letter to members of Congress, urging them to oppose HR 4167, which would exempt almost all collateralized loan obligations issued before January 14th from Volcker rule restrictions on bank sponsorship of external funds, allowing banks to continue to hold these instruments. Because managers of CLOs can buy and sell assets this would create a major loophole in Volcker rule prohibitions on proprietary trading.

AFR Opposes HR 2672 – Let the CFPB Do Its Job

AFR sent a letter to members of Congress urging them to oppose HR 2672. If adopted, this amendment would effectively create a petition process that would allow individuals who reside or do business in a state to apply for the designation of an area as rural (an area that has not already been designated as such). Areas designated as rural would be able to circumvent certain mortgage provisions put in place by the Consumer Financial Protection Bureau (CFPB).

AFR and 115 Organizations Defend CFPB, Strongly Oppose HR 3193

115 organizations joined AFR in sending a letter to members of Congress urging them to reject HR 3193. This legislation would weaken the Consumer Bureau, prevent it from doing its job and instead serve the interests of the worst elements of the financial industry.

AFR and More Than 215 Organizations Sign Letter Supporting Mortgage Forgiveness Tax Relief Act

More than 215 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 More Than 75 Organizations Defend CFPB, Strongly Oppose HR 3193

More than 75 organizations joined AFR in sending a letter to members of Congress urging them to reject HR 3193. This legislation would weaken the Consumer Bureau, prevent it from doing its job and instead serve the interests of the worst elements of the financial industry.

Trade Agreements Threaten Needed Financial Reform

In a letter to Congress, AFR urges members not to let potential international trade and investment agreements, such as the Trans-Pacific Partnership (TPP) or the Transatlantic Trade and Investment Partnership (TTIP), undermine hard-fought gains in financial reform, and not to compromise U.S. sovereignty in ways that would limit our ability to take further steps to regulate the financial sector.

AFR, Public Interest Groups Urge Swift Implementation of Mortgage Reforms

AFR and more than 15 public interest groups signed a letter calling for swift implementation of mortgage reforms.

Don’t Let Private Equity Operate in the Dark — Oppose HR 1105

AFR sent a letter to members of Congress urging that they Oppose HR 1105 , the “Small Business Capital Access and Job Preservation Act.” Contrary to its title, this bill is not designed to benefit small business. Instead, it would exempt private equity fund advisors from basic reporting requirements designed to allow regulators to monitor systemic risk in the financial system and protect investors and the public.

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.