On September 10, 2019, 17 civil rights, consumer and housing advocacy organizations sent a letter to the CFPB addressing QM and urging the Bureau to take additional steps to preserve access to affordable homeownership with adequate consumer protections in place.
On September 9, 2019, 34 organizations sent a letter in support of the Overdraft Protection Act of 2019.
On September 9, 2019, AFR submitted a letter of support for HR 1643, the Forced Arbitration Injustice Repeal (FAIR) Act to the House Judiciary Committee.
On July 23, 2019, AFR Education Fund submitted a letter to the U.S. Securities and Exchange Commission (SEC) opposing a proposal that would create exemptions that would permit U.S. banks – and international banks active in the U.S. market – to do large-scale derivatives dealing in the U.S. without being designated as derivatives dealers under Dodd-Frank Act rules.
The AFR Education Fund sent a statement for the record to the House Financial Services Committee concerning Facebook’s proposal for the Libra digital token and payment system. The statement describes ways in which Facebook is attempting to create an unregulated financial product of potentially global scale and the dangers this would pose to the users of the token and the broader financial system.
AFR wrote a letter to the Federal Reserve Board on a proposal that would liberalize the criteria the Board uses to determine control of a bank. The definition of “control” is critical as it determines whether entities with ownership and influence over banks will be designated as bank holding companies and subject to the appropriate regulation.