The Americans for Financial Reform Education Fund is strongly urging the SEC against raising the quarterly reporting requirements for institutional investors 35-fold that would take away up to 90% of the existing reporting that is vital to market participants and researchers alike.
AFR joined our partners in calling on the CFPB to rescind its guidance allowing credit reporting agencies and furnishers to disregard statutory deadlines.
AFREF and Demand Progress submitted comments to the FDIC on setting standards for fintech companies.
As the Federal Deposit Insurance Corporation (FDIC) reassesses third-party partnerships regarding financial technology (fintech), we urge it to refrain from delegating its responsibilities to a public-private standard-setting organization (SSO) and instead to develop its own expertise in the context of a robust, precautionary, approach to oversight. Facilitating compliance with SSO standards is not an acceptable means of regulation, nor an acceptable alternative to regulation.
AFR and our national partners submitted detailed comments opposing the OCC’s proposed true lender rule.
Letter from 101 groups opposing OCC’s true lender rule
The AFR Education Fund wrote a letter to the Commodity Futures Trading Commission regarding its proposed new “Electronic Trading Risk Principles”. The letter faulted the principles-based approach as basically allowing Wall Street to regulate itself in this important area. A copy of the letter can
Letter to CFPB urging focused outreach to LEP mortgage borrowers during COVID-19 and expanding language access in mortgage origination and servicing.
Joint letter asking CFPB not to hide complaint narratives in database.
Together, these rules would put the retirement security of millions of American workers and retirees at risk by exposing them to conflicted retirement investment advice without adequate protections to limit the harmful impact of those conflicts of interest. We therefore urge you to withdraw the regulatory package in its entirety and to begin again on a rulemaking proposal that prioritizes protecting retirement savers from the toxic conflicts of interest that pervade the financial services industry.