We, the undersigned 429 civil rights, consumer, labor, faith, veterans, senior, business, and community organizations from 46 states plus the District of Columbia write to vehemently oppose the proposed rescission of the common sense ability-to-repay requirements of the Consumer Financial Protection Bureau (the Bureau)’s 2017 payday and vehicle title loan rule (“Ability-to-Repay Rule” or “Rule”).
On May 13, 2019, Americans for Financial Reform Education Fund sent a letter to the Financial Stability Oversight Council warning about the dangers of weakening oversight of nonbank financial firms even if such a firm could impose a threat to financial stability.
On March 7, 2019, AFR Education Fund and 25 organizations submitted a letter to the Consumer Financial Protection Bureau on the need for strong consumer protections for Property Assessed Clean Energy (PACE) loans. Read or download a pdf version of this letter
Unfortunately, while we believe it would be possible to adopt standards that meet investors’ reasonable expectations under the Commission’s chosen regulatory approach, the regulatory package as currently drafted does not achieve that goal.
On April 18, 2019, AFR’s Language Access Task Force and several organizations sent a letter to the Federal Housing Finance Agency in support of its efforts to improve language access for Limited English Proficient borrowers. View or download a pdf copy of the letter.
ARFEF joined a letter to the CFPB requesting it open its consumer complaint procedure to accept complaints about Property Assessed Clean Energy (PACE) loans.
On March 18, 2019, Americans for Financial Reform Education Fund and a broad coalition of organizations submitted a letter to the Consumer Financial Protection Bureau expressing concern with their proposal to delay the rule on Small Dollar Lending by 15 months. Read or Download a
On March 15, 2019, Americans for Financial Reform Education Fund sent a letter to the Commodity Futures Trading Commission expressing several concerns regarding the agency’s “Swap Execution Facilities and Trade Execution Requirement” proposed rules. Read or download a PDF version of the letter.
February 27, 2019 Americans for Financial Reform Education Fund commented on a Proposed Consent Agreement by the Federal Trade Commission (FTC) that will permit the merger of Staples and Essendant. In the letter, AFR Education Fund urged the FTC to follow the logic of its
The replacement of the CEM by the SA-CCR would significantly reduce leverage capital requirements for bank derivatives positions, which we believe would cut total capital backing derivatives books at large banks.