Letters to Regulators: Letter to FHFA on Appraisals
AFREF joined a letter to FHFA on the importance of accurate and reliable appraisals and putting in place safeguards to protect against improper valuations and racial discrimination.
Category Archives: Letters to Regulators
Joint Statement: Over 145 Orgs Call on Secretary Yellen to Name Experienced Climate Champion to Lead Treasury’s Climate Hub
On Feb 25, more than 145 organizations from across the United States sent a letter to Treasury Secretary Janet Yellen, encouraging her to follow through on her promise to create a robust, well-staffed climate hub at Treasury led by a very senior-level person devoted full-time to climate.
Joint Letter: Over 145 Orgs Call on Secretary Yellen to Name Experienced Climate Champion to Lead Treasury’s Climate Hub
On February 25, more than 145 organizations from across the United States sent a letter to Treasury Secretary Janet Yellen, encouraging her to follow through on her promise to create a robust, well-staffed climate hub at Treasury led by a very senior-level person devoted full-time to climate.
Letters to Regulators: Letter to CFPB Acting Director on Racial Justice Priorities
AFR Education Fund joined a letter to CFPB acting director Dave Uejio that highlighted actions the Bureau can take to address systemic discrimination in the credit markets. The letter outlined issues the Bureau can address immediately and in the long term in line with its focus on racial equity.
Letters to Regulators: Letter to NCUA Opposing Proposed Change to Overdraft Policy
AFR Ed Fund joined our colleagues to send a letter opposing the National Credit Union Administration’s proposal to permit federal credit unions to leave negative account balances open for longer than the current limit of 45 days without any limits on overdrafts, overdraft fees, or NSF fees that can be assessed during this period. This proposal fails to consider the substantial risks it poses on credit union members who are facing economic challenges during the pandemic by exposing them to additional fees that only compound their financial distress.
Letters to Regulators: Letter in Response to the Federal Reserve Board’s ANPR on the Community Reinvestment Act
Americans for Financial Reform Education Fund organized a letter to the Federal Reserve Board (FRB) in response to their advanced notice of proposed rule making (ANPR) on the Community Reinvestment Act (CRA). The letter outlined a number of guiding principles and approaches to ensure that any changes to the CRA framework would be limited to measures that will increase equity in bank investments and access to sustainable, wealth-building credit in underserved communities as the statute intended.
Letters to Regulators: Comment on the CFPB’s ANPR Regarding Consumer Access to Financial Records
AFR joined a letter with our partners The National Consumer Law Center, Center for Responsible Lending, Consumer Action, Consumer Federation of America, and USPIRG commenting on the CFPB’s Advanced Notice of Proposed Rulemaking regarding consumer access to financial records. The letter responded to several questions from the CFPB to assist in developing a proposed rule to implement Section 1033 of the Dodd Frank Wall Street Reform and Consumer Protection Act. It called for a rule that would ensure control and protection for consumers accessing their own account data.
Joint Letter: Letter to President Biden Calling for Consumer Protections in Next Covid Legislation
Americans for Financial Reform joined a letter to the Biden administration highlighting the critical budget-related items that would help consumers in any upcoming Covid legislation. The letter urged President Biden to halt garnishment and offset certain tax refunds, fund a Housing Assistance Fund and housing counseling, and cancel student debt.
Letters to Regulators: Letter to the CFPB to Prevent Covid Foreclosures
AFREF joined a letter urging the CFPB to take immediate action to prevent a wave of Covid-19-related foreclosures, likely to be concentrated in low-income communities and communities of color.
Joint Letter: Letter to President Biden Opposing Any Weakening of Federal Securities Laws
Americans for Financial Reform joined a letter to the Biden Administration urging them not to weaken the securities laws through the further expansion and deregulation of the private offering marketplace. The letter warns that further expanding the pool of securities exempt from the disclosure and investor protections afforded by the federal securities laws has the potential to damage economic recovery, including by increasing the probability of fraud and hindering the efficient allocation of capital.