AFREF and more than thirty allied organizations signed onto a letter calling for the banking agencies to finalize strong bank regulatory capital proposals. These are urgently needed to increase the large banks’ safety and soundness, strengthen financial system stability, and preserve ordinary people’s access to financial services.
AFR was joined by 52 partner organization in a letter to Senate and House leadership expressing strong opposition to the Congressional Review Act resolutions of disapproval against the Securities and Exchange Commission’s Climate Financial Risk Disclosure Rule and the Climate-Related Financial Risk Management Principles from the Federal Reserve Board (Fed), the Office of the Comptroller
AFR and partners led a letter opposing a set of financial institution bills scheduled for markup tomorrow, May 17th in the House. Title I of the first bill (H.R. 8337) is particularly egregious and would result in ~100 banking organizations being removed from CFPB oversight, among other negative consequences for Qualified mortgage requirements, the Durbin amendment cap, the Volcker rule and others. H.R. 758 compromises safety and soundness standards while not addressing the root causes of de novo bank challenges.
Americans for Financial Reform (AFR) wrote a letter to the House Financial Services Committee expressing our strong opposition to legislation that the House Financial Services Committee (HFSC) is scheduled to consider this week that would amend the federal securities laws in ways that could be profoundly damaging to American workers and “mom and pop” investors.
Americans for Financial Reform (AFR) and partners led a letter the House Financial Services Committee (HFSC) to express our opposition to a legislation package that the committee is scheduled to markup this week. The collection of bills would erode consumer protections, enable predatory lenders, and hamstring the Consumer Financial Protection Bureau’s ability to fulfill its mandate
AFREF and Public Citizen led a coalition letter urging the six relevant agencies to implement section 956 of the Dodd-Frank Act, which requires them to promulgate a rule banning incentive-based executive pay that incentivizes inappropriate risk-taking. A year after the 2023 banking crisis — and almost fourteen years after the statutory mandate was enacted — we do not have a rule to protect consumers, depositors, and the public from executives’ excessive risk-taking.