“On behalf of Americans for Financial Reform, the leading public interest coalition that supported enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) and its members, including the undersigned, we write both to explain the importance of the Act and to demonstrate its constitutionality. While numerous opponents of financial reform have challenged the act’s constitutionality, none have prevailed, in any court.”
“We are writing to express our concerns about, and in most cases our opposition to, a number of the bills being marked up in the House Financial Services Committee today. The bills we have highlighted below include harmful deregulatory measures that would reduce protections for consumers as well as the financial system as a whole. “
“On behalf of Americans for Financial Reform (AFR), we are writing to express our opposition to “The Federal Reserve Reform Act of 2015”. Among other responsibilities, the Federal Reserve is the single most significant regulator of U.S. financial institutions, including the large Wall Street banks that played a central role in the 2008 financial crisis. “
“On behalf of Americans for Financial Reform, we are writing to express our opposition to two amendments being offered to the Financial Services and General Government Appropriations bill… The first would bar the Consumer Financial Protection Bureau (CFPB) from issuing any rule or regulation related to payday lending until it has completed at least four new and unnecessary studies and reporting requirements… The second amendment would similarly delay and obstruct CFPB efforts to write a rule to eliminate forced arbitration in consumer financial contracts, action that the Dodd-Frank Act authorizes the Bureau to take. “
“As organizations that want to see protections for retirement savers strengthened, we write to express support for the Department of Labor’s proposed rule — now out for public comment — that would close loopholes and update the standards for retirement investment advice under the Employee Retirement Income Security Act (ERISA).”
“On behalf of the undersigned organizations, we are writing to express our opposition to the Financial Services and General Government appropriations bill. Key elements of this bill would undermine the capacity of financial regulators to protect consumers and oversee our financial markets. By removing independent funding for the Consumer Financial Protection Bureau (CFPB), this legislation would subject the CFPB to limitations placed on no other banking regulator…This appropriations bill would also significantly underfund the Securities and Exchange Commission (SEC) by denying over $200 million in funding necessary to provide proper oversight of investment professionals and securities markets.”
