AFR and 340 additional organizations sent a letter to members of Congress urging them to oppose any efforts to dismantle, weaken, or change the structure of the CFPB, which was established by Congress to ensure that markets work in an open, transparent, and fair way for consumers. Failure to appropriately regulate the consumer financial marketplace was a central cause of the financial crisis that devastated the U.S. and global economies; the CFPB is a shining success story of the efforts to correct the mistakes and close the gaps that led to that failure. The letter urges members of Congress to support the CFPB in fulfilling its consumer protection mission, rather than undermine it.
“H.R. 650 would not expand access to sustainable credit and would not serve the interests of homeowners and communities. Instead, this bill would undermine already vulnerable homeowners by stripping away protections created by Congress and implemented by the Consumer Financial Protection Bureau.”
“As organizations that support strengthening protections for retirement savers, we write to thank you for sending a proposed rule to the Office of Management and Budget (OMB) to update and close loopholes in the 40-year-old rules that apply when individuals receive professional advice about retirement investments. Updating protections for retirement savers is urgently needed and long overdue.”
AFR joined 35 other organizations in urging Congress to reject HR 527, the “Small Business Regulatory Flexibility Improvements Act of 2015” (SBRFIA.) SBRFIA expands the reach and scope of the Regulatory Flexibility Act and would increase unnecessary and lengthy regulatory delays, increase undue influence by regulated industries and encourage convoluted court challenges.
AFR joined 23 organizations in sending a letter to members of Congress, urging them to oppose HR 50. This legislation would make it even more difficult for agencies to implement laws already enacted by Congress.
The Institute on Agriculture and Trade Policy and Americans for Financial Reform submitted a joint comment on position limits for commodities to the Commodity Futures Trading Commission.
