AFR Education Fund comment on the need to collect data on Opportunity Zone tax break that could reduce affordable housing options, displacing lower-income families of color.
Letter to HUD asking for delay of ANPR until note sale data is released
Do not be deceived by the label. The so-called “best interest” standard doesn’t require brokers to do what’s best for their customers. It will not require them to recommend the investments they reasonably believe are the best match for the customer, and it will not require them to consider costs except when comparing otherwise identical securities. That’s why state securities regulators have warned that the proposal “subverts,” rather than protects, investors’ best interests.
“An effective consumer financial protection agency saves families billions of dollars a year, and makes their economic lives more secure. It fights lending discrimination, and shuts down tricks and traps” said Lisa Donner, executive director of Americans for Financial Reform. “Unfortunately, the evidence keeps piling up that the current leadership at the agency is focused on rolling back protections and enabling bad financial actors to rip people off. It is so important that members of Congress continue pressing the CFPB to live up to its consumer protection mandate and fulfill its basic responsibilities, as the House has in passing the Consumers First Act today.”
As part of the Fair Arbitration Now (FAN) coalition, AFR sent a letter in support of Rep. Green’s amendment to the Consumers First Act, which would restore the Consumer Financial Protection Bureau’s arbitration rule that was repeated by a Congressional Review Act resolution in 2017.
On Wednesday, Senator Sanders (I-VT) and Representative Lee (D-CA) introduced the Inclusive Prosperity Act, a bill that would impose a sales tax of 50 cents, 10 cents, and 1/2 a cent per $100 on each trade of stock, bonds and derivatives respectively.
Dear Representative or Senator, We are writing on behalf of 30 undersigned organizations to urge you to co-sponsor the Inclusive Prosperity Act of 2019.
“[A] good bit of that progress … could be endangered by a kind of low-intensity deregulation, consisting of an accumulation of non-headline-grabbing changes and an opaque relaxation of supervisory rigor. There are things to be concerned about in many of the individual proposals on such matters as the leverage ratio, resolution planning, and foreign banking organizations. It’s the cumulative effect, though, that is truly worrisome.”
Read or download PDF version of the event’s agenda. Read U.S. Sen. Sherrod Brown’s (D-OH) remarks on Trump Administration’s big bank rollbacks. Read or download PDF version of former Fed Governor Daniel K. Tarullo’s remarks “Taking the Stress Out of Stress Testing“ Video of the
The Proposal—a plainly outcome-driven, 47-page exercise in grasping for straws—has offered no reasonable basis to rescind that Rule. Based on a distorted focus on the Rule’s “dramatic impacts” on lenders’ ability to engage in a predatory practice, rather than on the need to protect consumers, the Proposal claims that the evidence must somehow be “more robust.” If the Rule requires significant changes for payday and vehicle title lenders, it is because the harm to consumers is dramatic. The Bureau’s new approach would ignore its consumer protection mandate and require the agency to hesitate when consumer harm is the most severe.