Letters to Regulators Archives - Page 26 of 62 - Americans for Financial Reform

Joint Letter: Calling on SBA to release Paycheck Protection Program loan forgiveness data

AFR joined a letter to the Small Business Administration calling for the release of data pertaining to Paycheck Protection Program recipients’ loan forgiveness requests, which represents $194.5 billion of taxpayer money, most of which has already been forgiven. The letter urges the SBA to release the number of jobs borrowers supported with PPP funds, information on any pay reductions experienced by workers employed by borrowers, whether the borrower applied for or received a second draw PPP loan, among other important data points.

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Letters to Regulators: Letter to the OCC to Scrutinize New Partnerships Between Risky Share Agreement Companies and Banks

AFREF joined our partners in sending a letter calling on the OCC to carefully scrutinize new partnerships between risky Income Share Agreement companies and banks under OCC supervision. Partnerships like the one between Mentorworks and Blue Ridge Bank have the potential to put borrowers at risk by opening the market to a product that is violating the law & harming borrowers.

Letters to Regulators: Letter in Response to FHFA RFI Expressing Concerns About Climate and Natural Risk Management

AFREF and 17 organizations sent a letter in response to FHFA’s RFI on climate and natural risk management detailing our concerns about the disproportionate impact of climate change and natural disasters on borrowers and communities of color and low and moderate income neighborhoods. We provided recommendations for next steps on FHFA’s work on mitigating climate risk and urged FHFA to make sure climate risk mitigation efforts do not cause inadvertent harm to the communities who are already most vulnerable to the adverse effects of climate change and who face the most challenges in accessing and sustaining homeownership.

Joint Statement: Over 415 Orgs Call on President Biden to Cancel Federal Student Debt Immediately using Executive Action

Today, over 415 organizations sent an updated letter to President Biden and Vice President Harris, calling on them to use executive authority to cancel federal student debt immediately. In the letter, the 416 advocacy groups highlight that cancelling student debt would stimulate the economy, help reduce racial wealth gaps, and could have a positive impact on health outcomes.

Sign-on Letter: Over 415 Orgs Call on President Biden to Cancel Federal Student Debt Immediately via Executive Action

400 organizations signed a letter to President Biden and Vice President Harris, calling on them to use executive authority to cancel federal student debt immediately. The letter, first sent in November and then again in January, has been updated with more than 70 additional signers.

Letters to Regulators: AFR Education Fund Calls on SEC for Stronger Regulation of Funds in Wake of March 2020 Bailout

The AFR Education Fund sent a letter to the Securities and Exchange Commission responding to a request for comment on regulatory options for money market funds in light of the collapse and bailout of many money market funds during the March 2020 coronavirus financial shock. The letter called for strong new regulatory steps to fix incentives that create financial instability for these products. It also questioned whether additional regulation should be extended to other types of fixed-income investment funds beyond money market funds narrowly defined, as there is evidence that these types of fund arrangements can also contribute to financial instability.

Letter to Regulators: Federal Reserve Must Do Better on Climate Risk

Americans for Financial Reform Education Fund joined 64 groups in writing a letter to Federal Reserve Chair Powell to take bold and timely action on climate change, in line with the US commitment to the Paris Agreement. The letter asks him to use the Fed’s

Letter to Regulators: In the wake of Archegos, the SEC should end 13F loopholes

In the wake of market volatility stemming from Archegos Capital, AFR wrote to the Securities and Exchange Commission (SEC), urging action to improve transparency with enhanced 13F disclosures and investigate any regulatory gaps created by the registration exemption for large family offices. You can find

Letter to Regulators: Fill Vacant Inspector General positions

AFR joins a letter to the White House and the Council of the Inspectors General on Integrity and Efficiency (CIGIE), calling on President Biden to nominate individuals to fill the fourteen open inspector general positions by June 1, 2021. Inspectors general are a linchpin of government accountability yet fourteen of the seventy-four total offices of the inspectors general are vacant. The ongoing response to COVID-19 has demonstrated the importance of using all available mechanisms within the federal government to ensure proper oversight and accountability of government programs.

Letters to Regulators: Letter to the CFPB Re: Renewed Request to Rescind Language in April 1, 2020 CFPB Guidance Allowing CRAs and Furnishers to Exceed FCRA Deadlines for Disputes

AFREF joined our partners in sending a follow-up letter calling on the CFPB to rescind its April 1, 2020 guidance allowing consumer reporting agencies and furnishers to exceed the dispute investigation deadlines under the Fair Credit Reporting Act. In the six months since we sent our last letter, the situation has only gotten worse, with nearly 26,000 more complaints submitted by consumers about delayed or nonexistent responses to credit/consumer reporting disputes. We urged the Bureau to revoke the guidance as soon as possible to prevent further consumer harm.