AFR sent a letter to House and Senate members asking them to oppose S. 2732, the “Consumer Financial Protection Bureau Examination and Reporting Threshold Act of 2014.” This legislation would increase from $10 billion to $50 billion the asset threshold for “large banks” subject to supervision by the CFPB, dramatically reducing the number of large banks supervised by the CFPB threatening harm to the hundreds of millions of consumers who are beginning to benefit from effective oversight of these institutions.
AFR and more than twenty public interest, consumer, and labor organizations sent a letter to members of Congress urging them to oppose HR 3211. This legislation would reopen the door to the higher fees borrowers faced in the lead up to the mortgage crisis.
AFR sent a letter to members of Congress urging them to reject HR 4, “Jobs for America Act,” focusing in particular on the portion of the bill that would roll back new registration and reporting requirements for private equity fund advisors that have already uncovered widespread abuses by the industry.
AFR sent a letter to members of Congress urging that they oppose HR 5405 and The Insurance Capital Standards Act of 2014. These pieces of legislation include numerous technical changes that could have significant impacts on regulators ability to enforce new financial rules, and they deserve full debate and consideration from regulatory experts before being passed under suspension of the rules.
“Against the backdrop of $1.2 trillion dollars in outstanding student loan debt that is currently dragging on individual borrowers and the economy more broadly, it is imperative that our federal lawmakers take steps to change banking and financial firm practices that contribute to that debt burden.” – joint letter to Senate Committee on Banking, Housing, and Urban Affairs.
AFR sent a letter to members of Congress, urging them to reject HR 5018. This legislation would dramatically reduce the ability of the Federal Reserve to effectively regulate Wall Street banks and financial institutions by imposing complex cost benefit requirements that must be satisfied before any rulemaking can take place.
