“…we are writing to express our strong opposition to the “Financial CHOICE Act” (H.R. 5983) and to urge you to vote against this measure. Passage of this legislation would have a devastating effect on the ability of regulators to protect consumers and investors from exploitation and the economy from financial risk. It would expose consumers, investors, and the public to greatly heightened risk of abuse in their regular dealings with the financial system, and our economy as a whole to heightened risk of instability and crisis. “
AFR and 5 other organizations urge Congress to reject HR 5424, a dangerous bill that would allow private funds to evade SEC examinations, and to distribute misleading and even fraudulent advertising materials.
“We are writing to urge you to oppose H.R. 5063, which would categorically prohibit federal settlements from including payments or in-kind relief to third-party organizations or others who were not direct victims of a defendant’s illegal conduct… Passage of this bill would make it substantially more difficult for settlements to provide relief to reach those harmed by illegal activity. “
“On behalf of Americans for Financial Reform (AFR), we are writing to express our very grave concerns about the “Financial CHOICE Act” and to urge you to oppose this measure. Passage of this legislation would have a devastating effect on the ability of regulators to protect consumers and investors from exploitation and the economy from financial risk. It would expose consumers, investors, and the public to greatly heightened risk of abuse in their regular dealings with the financial system, and our economy as a whole to heightened risk of instability and crisis. “
AFR support the U.S. Territories Investor Protection Act of 2016 to close an egregious, decades-old loophole that exempted companies in Puerto Rico, the Virgin Islands, and any other United States territory from the Investment Company Act of 1940 – a loophole that denied residents the basic investor protections afforded to residents of the mainland United States.
“Thank you for introducing the Wage and Garnishment Equity Act of 2016 (WAGE Act), which would amend the Consumer Credit Protection Act to protect workers from excessive wage garnishment. “
