Letters and Statements Archives - Page 6 of 50 - Americans for Financial Reform

News Release: CFPB Proposed Rule will Bring Accountability for Financial Corporations

Washington, D.C. — The Consumer Financial Protection Bureau (CFPB) proposed rulemaking to require that regulated nonbank entities annually register with the CFPB regarding their use of specific terms and conditions in form contracts for consumer financial products and services, will reinforce the agency’s ongoing efforts to bring transparency and accountability on how financial industries operate, according to Americans for Financial Reform Education Fund and consumer coalition advocates.

Letters to Regulators: Letter to FHFA on the Federal Home Loan Bank System

AFREF led 14 organizations in the housing, consumer protection, climate, civil rights, and community investment spaces, in a letter to the Federal Housing Finance Agency regarding the Federal Home Loan Bank system, arguing for expanded contributions to affordable housing to justify the public investment in the system, and for the system to undertake a number of initiatives to support members in reducing their climate risk and climate vulnerability.

Guest Blog: Do Not Revamp or Defund the CFPB

Congressional Republicans have moved on to their next target for financial deregulation: Republicans in Congress and the consumer finance industry want to eliminate or hobble the Consumer Financial Protection Bureau. The agency has provided $16 billion in restitution or cancelled debt to 192 million consumers since the agency began operation in 2010. It’s one of the few institutions, public or private, that has earned Americans’ confidence in a long time.

News Release: Broad, Independent Probe of Fed Failings on Bank Crisis Essential

A successful independent investigation into the failure of the Federal Reserve to prevent the failure of Silicon Valley Bank and the current banking crisis must have a broad scope and the authority to collect and make public the evidence from the probe, according to Americans for Financial Reform.

Blog: Mutually Reinforcing Changes to Law, Regulation and Supervision Produced Crisis

At the behest of a bank lobby that pumps billions into the political system, Congress in 2018 relaxed laws on mid-sized banks like Silicon Valley Bank, at a time when regulators appointed by former President Trump were already eager to go easier on banks. The signal could not have been clearer, and AFR warned so at the time.

News Release: House Financial Services Republicans Squander Opportunity to Hold Crypto Industry Accountable

Washington, D.C. — The House Financial Services subcommittee hearing today on digital assets should have been an opportunity to identify critical actions Congress and regulators should take to address the fallout of the crypto crash, but consumer advocacy groups fear the hearing will take a very different direction instead.

Blog: Fed Should Ignore Megabank Lobby and Strengthen Capital Rules

As the Federal Reserve prepares new capital rules for American banks, Wall Street is rolling out its misdirection and bad arguments – as it has for much of the past decade – about why they should not be required to steel themselves against a crisis or downturn. And once again, regulators and Congress must be prepared to ignore their histrionics and strengthen capital requirements.

Blog: CFPB Supreme Court Case Draws Greater Attention as Threat to Federal Reserve

The gravity of what will be a landmark Supreme Court case involving the funding of independent agencies has become increasingly apparent to observers of the judiciary. Numerous media reports have highlighted how the case, aimed at the Consumer Financial Protection Bureau, threatens to upend the funding for many federal agencies, above all the Federal Reserve.

News Release: Supreme Court Signals Gravity of Fifth Circuit Ruling by Taking CFPB Case

Washington, D.C. – The Supreme Court’s decision to take up a case in which the Fifth U.S. Circuit Court of Appeals attacked the funding mechanism of the Consumer Financial Protection Bureau recognizes that the lower court has produced a decision threatening consumers, honest businesses, and the financial system itself.

Letters and Statements: Letter to IOSCO on Voluntary Carbon Market Oversight

The International Organization of Securities Commissions (IOSCO) seeks comment on a Voluntary Carbon Markets Discussion Paper issued to advance the discussion about what sound and efficient Voluntary Carbon Markets should look like and what role financial regulators may play in promoting integrity in those markets. Americans for Financial