Joint Letter: Letter to FHA Urging Greater COVID-19 Protections for Borrowers
Coalition letter to FHA on clarifying and improving protections for borrowers facing hardship related to covid-19.
Government Category: Comments & Letters to Regulators
Letter to Regulators: The Fed must reject any effort by banks to increase involvement in oil and gas
Americans for Financial Reform Education Fund sent a letter to the Federal Reserve Board, urging them to avoid any actions which would permit the financial holding companies or any of their subsidiaries to directly or indirectly operate oil or gas companies. The letter highlights the manifold physical, economic, reputational and financial system risks of bank commodity holdings, risks have become even more severe with the recent dislocation in global energy markets. As these markets will be disrupted for an extended period, the letter asks the Board to firmly reject any effort by banks to use the situation with respect to defaulting loans in the energy industry to increase bank involvement in the oil and gas industry.
Letter to Regulators: End Insider Dominance of Municipal Market Oversight
ACRE, AFSCME, the AFL-CIO, AFR Education Fund, the Consumer Federation of America, and Public Citizen sent a letter to the Municipal Securities Rulemaking Board concerning the need for broader public representation in governance of the Board and oversight of municipal lending markets. The letter is linked for download here and reproduced below. Mr. Ronald W.
Comment Letter: Comments on Federal Reserve Emergency Facilities
Together, these facilities could deploy up to $2.3 trillion in new credit to the economy during the pandemic crisis period. Without major changes these facilities will not be effective in getting assistance to those most impacted by the crisis, and disclosure and transparency regarding specific borrowers and loan terms is lacking. Our comment provides specific recommendations to address these issues.
Joint Letter: Letter Opposing OCC/FDIC Proposed Changes to Weaken the Community Reinvestment Act
The proposed CRA rules would substantially undermine the very purpose of the statute by weakening the requirements that banks meet the credit needs of the communities where they operate, including low- and moderate-income (LMI) areas.
Joint Letter: Letter to HUD asking for COVID-19 protections for reverse mortgage borrowers
Letter to HUD asking for needed protections for reverse mortgage borrowers facing challenges due to COVID-19