Letter to Congress: Oppose Legislation Undermining Stable CFPB Funding
AFR and partners submitted a letter to the House Financial Services Committee in opposition to the TABS Act.
Government Category: Advocacy Documents
Letters to Regulators: Letters to the IRS and Treasury and the CFPB on Medical Debt
AFREF joined two letters – one to the Internal Revenue Service (IRS) and Department of Treasury, and one to the Consumer Financial Protection Bureau (CFPB) – urging the Biden-Harris Administration to do more to relieve medical debt for tens of millions of people. The letters, signed by more than 60 organizations, include specific executive actions the administration can take to address medical debt.
Letters to Regulators: Letter to OSTP Raising Concerns about Limits of Blockchain Technology
AFREF and Demand Progress Education Fund submitted comments to the Office of Science and Technology Policy (OSTP) in response to the agency’s request for information regarding the risks, limitations and purported benefits of blockchain technology (including regarding central bank digital currencies), to help inform the government’s research and development agenda on blockchain. The submission raised concerns about the technological limits and risks of blockchain as used for both financial and non-financial applications, as well as a variety of risks, and urged the OSTP to take a more balanced and sober look at blockchain in view of these limitations.
Letters to Congress: Defend the Department of Labor Rule that Safeguards Workers’ Retirement Security
AFR and Public Citizen led a letter to members of Congress, urging them to oppose a Congressional Review Act Resolution seeking to nullify the Department of Labor’s important new rule that safeguards workers’ retirement security. Over sixty organizations signed on to the letter.
Letters to Regulators: Letter From 29 Signers to the SEC on Passing Strong Final Rules on Private Fund Advisers to Protect Investors and the Financial System
AFREF led a letter with 29 signers to the Securities and Exchange Commission reiterating the important need to pass a strong set of final rules related to requiring private fund advisers to disclose a complete breakdown of fees/expenses, assumptions used to calculate returns, and the existence of side letters to investors.
The letter is also urging the SEC to finalize a strong set of rules related to requiring private fund advisers over a certain size to report more detailed information about their holdings confidentially to the SEC so that the SEC and other financial regulatory agencies have much greater insight into the risks in the $21 trillion private fund space where there is currently little visibility in order to better safeguard the financial system.
Letters to Regulators: Letter to the SEC in Support of Open-Ended Fund Proposal
AFREF sent a letter in support to the Securities and Exchange Commission on its proposal to better protect investors and the financial system from the problems in the $21 trillion open-end fund market.