AFREF submitted a letter to the Department of Labor urging it to withdraw a rule proposal that would impose onerous costs and process requirements on private sector retirement plans when deciding whether and how to vote on matters brought to a vote at public companies’ annual meetings. It will impose costs on retirement savers and undermine advances on corporations’ integration of environmental, social and governance factors, including those that have a material financial impact on long-term investment performance
Letter to CFPB opposing seasoned mortgage proposal
The Americans for Financial Reform Education Fund is strongly urging the SEC against raising the quarterly reporting requirements for institutional investors 35-fold that would take away up to 90% of the existing reporting that is vital to market participants and researchers alike.
What industry calls “innovation” is often easily mapped to a longstanding financial service and therefore the existing laws should apply. At the same time, certain tools and certain forms of partnerships should have no place in our economy whatsoever. Treating innovation as an unqualified good leads regulators to ignore both considerations of equity and long-term, sustainable innovation. Give the interface between powerful corporations, complex products, and the public, precaution should be the norm, as it is in food and drug regulation.
AFR joined our partners in calling on the CFPB to rescind its guidance allowing credit reporting agencies and furnishers to disregard statutory deadlines.
AFREF and Demand Progress submitted comments to the FDIC on setting standards for fintech companies.
