Americans for Financial Reform along with 23 consumer, civil rights, community, labor, faith-based, small business, farm, and other organizations sent a letter urging the Senate Banking Committee to oppose the nomination of Jonathan McKernan to serve as Director of the Consumer Financial Protection Bureau (CFPB). The CFPB’s Director should preserve the Bureau’s integrity, capacity, and independence and stand up against capricious and unlawful efforts to defund, dismantle, or diminish the agency. Jonathan McKernan fails to meet these standards.
View or download a full PDF version of the letter here.
AFR submitted a statement for the record hearing that challenges the notion of so-called de-banking, which is really a red herring to obscure the real risks from reckless speculation, egregious self-dealing, or illegal and harmful financial transactions by the companies that complain.
AFR submitted a Statement for the Record to the House Financial Services Committee to oppose both the resolution of disapproval of the CFPB’s overdraft fee rule as well as the legislative proposals that would repeal or weaken the small business and farm lending transparency rules. These proposals will hurt everyday people, including consumers and their families, as well as small business owners and farmers and the communities they serve.
AFREF and 36 partners led a letter urging the Department of Treasury’s Federal Insurance Office (FIO) to swiftly release the homeowner insurance data that the National Association of Insurance Commissioners collected from over 330 insurers representing over 80% of the property and casualty market while also urging FIO to swiftly release a robust report analyzing the data.
Americans for Financial Reform Education Fund, joined by 9 signatories, submitted a letter to the Securities and Exchange Commission strongly endorsing the Public Company Accounting Oversight Board’s (PCAOB) proposed standards. The standards would require firms to disclose standardized and comparable metrics that facilitate cross-firm comparisons and assessments of audit quality, providing critical data for investors to make informed decisions. The letter highlights that requiring consistent and comparative metrics will reduce opportunistic disclosures, simplify audit committee oversight, and foster a data-driven approach to regulation and audit quality.
