Testimony: Renita Marcellin Testifies Before NY State Senate Standing Committee on Banks
AFR’s Advocacy and Legislative Director Renita Marcellin testified before the NY State Senate Standing Committee on Banks.
Government Category: Advocacy Documents
Letters to Congress: Letter Opposing H.R. 3556 “Increasing Financial Regulatory Accountability and Transparency Act”
AFR sent a letter opposing H.R. 3556 “Increasing Financial Regulatory Accountability and Transparency Act,” a bill supposedly to make the Fed more transparent, which will instead hamstring the Financial Stability Oversight Council’s (“FSOC”) ability to effectively monitor risk in the financial system. This bill would subject the FSOC’s designation authority to Congressional review, which would allow any firm the FSOC designates as systemically important to lobby Congress to rescind the FSOC’s designation. This would render the FSOC designation authority under the Dodd-Frank Act futile and unnecessarily politicize the agency’s efforts to monitor companies that pose an outsized risk to our financial system. This bill comes at the heels of the FSOC’s announcement to reinvigorate its designation process, a welcome step in preventing the next financial crisis.
Letters to Congress: Letter in Opposition to HR 3564
AFR submitted this letter in opposition to H.R. 3564, which would make mortgages more expensive for many middle-class American families. H.R. 3564 would rescind the FHFA’s more equitable mortgage pricing framework and instead require the FHFA to increase fees for many first-time home buyers and those who do not have a 20% down payment.
Statement: Statement for the Record for House Financial Services Digital Assest Subcommittee Hearing on Stablecoins
Americans for Financial Reform submitted today a statement for the record for the joint House Financial Services/Agriculture Committees’ subcommittee hearing on stablecoins entitled, “Putting the ‘Stable’ in ‘Stablecoins:’ How Legislation Will Help Stablecoins Achieve Their Promise.”
Statement: Statement for the record for hearing on Examining Cannabis Banking Challenges of Small Businesses and Workers
Consumer advocacy groups raise concerns about language in SAFE Banking Act that hampers regulators’ ability to stop fraud and prevent bad actors from gaining access to the banking system.
Letters to Regulators: EPA Should Continue to Develop Greenhouse Gas Reduction Fund Guidance that Delivers Tangible Benefits to Low-Income and Disadvantaged Communities Across the Country
May 12, 2023 Americans for Financial Reform Education Fund (AFREF) submitted an environmental justice advocates comment letter signed by Public Citizen and WE ACT for Environmental Justice to the Environmental Protection Agency (EPA) on its Implementation Framework for the Greenhouse Gas Reduction Fund. The Implementation Framework charts a path towards an environmental and climate justice-aligned