Letters to Regulators: AFR Education Fund submitted comment on proposed revisions to Volcker Rule.
Click here to download a PDF version of the letter.
News Release: Regulators were wrong to remove Prudential Financial from list of systemically important financial companies
The Financial Stability Oversight Council (FSOC) announced that it has reversed its designation of Prudential Financial, Inc. as a systemically important financial institution (SIFI). The Council, under the leadership of Secretary Mnuchin, has now freed from Federal Reserve consolidated oversight the last of the four previously designated nonbank SIFIs.
New Report: Where They Stand On Financial Reform
Ten years after the financial crisis, a majority of members of the Congress that wrapped up work in 2018 voted again and again for bills pushed by the bank lobby that endanger financial stability, undermine consumer and investor protections, and enable racial discrimination in lending. The change in control of the House and a heightened awareness of the dangers posed by these actions provide an opportunity to see what changes in the 116th Congress.
News Release: Court Sides with Students Over DeVos’s Pro-Corporate Agenda
Americans for Financial Reform Education Fund applauds the news that a court has rejected the for-profit college industry’s attempt to stop the 2016 Borrower Defense rule. Today, the United States District Court for the District of Columbia sided with students over Betsy Devos’s attempts to let abusive for profit schools rip them off with impunity.
Joint Statement: Public Interest Groups Applaud FHFA Move to Expand Resources for LEP Borrowers
The clearinghouse is a valuable resource that will improve the homeownership experience for Limited English Proficient (LEP) borrowers by making available all in-language resources in one centralized place, including translated loan documents, glossaries, and other educational materials. The clearinghouse will be helpful to lenders, housing counselors, attorneys, and other advocates assisting LEP borrowers.
News Release: Grupos de Interés Público Aplauden a la FHFA por Ampliar Recursos para Prestatarios con Conocimientos Limitados del Inglés
El repositorio es un recurso valioso que mejorará el proceso de adquisición de viviendas para prestatarios con Conocimientos Limitados del Inglés (LEP, por sus siglas en inglés) al hacer disponible en un mismo sitio toda la documentación en un mismo idioma, incluyendo traducciones de documentos de préstamos, glosarios, y otros materiales educacionales. El repositorio será de utilidad para prestamistas, asesores de vivienda, abogados, y otros ayudando a prestatarios con conocimientos limitados del inglés.
Letters to Regulators: Letter Urging the CFPB to Initiate the Rulemaking Process to Implement Section 307 in the Economic Growth, Regulatory Relief, and Consumer Protection Act
AFR joined a letter urging the CFPB to expeditiously initiate the rulemaking process to implement Section 307 in the Economic Growth, Regulatory Relief, and Consumer Protection Act (Public Law 115-174).
Joint Letter: AFL-CIO and Americans for Financial Reform sent a letter to the Senate opposing S. 488
October 11, 2018 AFL-CIO and Americans for Financial Reform wrote a letter to the Senate to state opposition to S. 488 (the so-called “JOBS and Investor Confidence Act of 2018”) which has been passed by the House of Representatives. Many industry lobbyists are pressing for
Joint Letter: Group Of 13 Organizations Sent a Letter Opposing Eric Dreiband’s Nomination as Assistant Attorney General of the Civil Rights Division at the U.S. Department of Justice
AFR and 12 organizations opposed the nomination of Eric Dreiband to serve as the Assistant Attorney General of the Civil Rights Division at the Department of Justice.
Joint Statement: CFPB Sandbox Proposal Would Deny Consumers Key Information
The CFPB is exceeding its authority under the law that created the agency and would set a dangerous precedent with its “disclosure sandbox” policy, its label for granting companies exemptions from disclosure rules. The CFPB would allow firms to obfuscate or eliminate important information in the name of “financial innovation,” a label often applied to defend practices in mortgage lending that led to the 2008 crisis.