AFR sent a letter to members of Congress urging them to oppose HR 1309, the “Systemic Risk Designation Improvement Act of 2015.” This legislation would make major deregulatory changes in Dodd-Frank directives concerning the oversight of some of the largest banks in the country. It would make it harder for regulators to take action to manage dangers to financial stability, and make it easier for individual large banks to use special pleading to escape from oversight.
AFR submitted comments to the CFPB on the agency’s proposed amendments to its mortgage servicing regulations. AFR appreciates the CFPB’s attention to dealing with continuing problems facing borrowers seeking loan modifications, supports proposed steps to address them, and urges further changes to do so more effectively.
AFR sent a letter to members of Congress, urging them to oppose HR 1266, the “Financial Product Safety Commission Act of 2015.” This bill would change the structure of the CFPB; instead of being led by a single director, it would be headed by a Commission of five members, appointed by the President and confirmed by the Senate. This change in structure would reduce the Bureau’s effectiveness in standing up for the public interest, and reduce the accountability of its leadership.
AFR sent a letter to members of Congress urging them to oppose HR 1266, and any legislation that weakens the authority of the CFPB to effectively protect consumer.
AFR sent a letter to members of Congress urging them to protect retirement savings and reject HR 1090. This legislation would significantly delay and possibly prevent the Department of Labor from proposing a rule addressing flaws in protections for retirement savings, protections that have not been updated for some forty years.
AFR and five other consumer advocacy organizations, sent a letter to SEC Chair Mary Jo White detailing key investor protections that the SEC has failed to take, and urging Chair White to act on them.
