Letters to Regulators: AFR Education Fund sent a comment letter to the SEC regarding proposed rules on broker-dealer and swap dealer capital requirements.
Click here to download a PDF version of the letter.
Letters to Regulators: Joint Letter to the OCC Opposing Any Changes that Would Weaken the Community Reinvestment Act
On November 19, 2018, AFR and 35 organizations sent a joint letter to the OCC urging the agency not to weaken the Community Reinvestment Act.
Letters to Congress: Letter To The U.S. Senate Opposing The Misleading-labeled “Taxpayer Protection and Responsible Resolution Act.”
Americans for Financial Reform sent a letter to the U.S. Senate opposing the “Taxpayer Protection and Responsible Resolution Act” (TPRRA), a legislation that gives special privileges to large financial institutions, encourages the continuation of “too big to fail”, and increases systemic risk.
Joint Statement: CRL, AFR Urge OCC Not To Weaken Standards In CRA Update
The groups pressed the OCC that any changes to the CRA must strengthen — not weaken — banks’ obligation to meet the needs of low-income communities and communities of color and that changes must result in expanded access to credit in historically redlined areas.
Letters to Regulators: Letter to the SEC opposing efforts to weaken shareholder rights
AFR opposes policy proposals that would silence shareholders voice and that would make it harder for proxy advisory firms to advise investors.
Letters to Regulators: Joint Letter to the Federal Reserve about Wells Fargo’s Wrongful Foreclosures
Joint letter to the Federal Reserve asking that Wells Fargo be kept accountable for the computer error that resulted in at least 870 incorrect mortgage modification denials and caused at least 545 homeowners to lose their homes to foreclosure.
Letters to Congress: AFR Opposes the Financial Institution Bankruptcy Act — Changes Would Benefit “Too Big to Fail” Banks
View or download a PDF version of the letter. November 13, 2018 Dear Senator, On behalf of Americans for Financial Reform (AFR), we are writing to express our opposition to HR 1667, the “Financial Institution Bankruptcy Act” (FIBA).[1] We strongly support the Judiciary Committee’s efforts
News Release: SEC Advisory Committee Right to Seek Major Changes to Broker Standards Proposal
What we heard today from the diverse membership of the SEC’s own advisory committee is that they share our view that the proposed Reg BI would not protect investors. The IAC has called on the SEC to instead pass rules that make clear that brokers have a legal obligation to act in the best interests of their clients.
News Release: Wells Fargo Must Compensate Wrongfully Evicted Homeowners
Wells Fargo must complete a comprehensive review that identifies every single homeowner affected by this problem, and must adequately compensate them for the serious harm they have suffered as a result of losing their homes to wrongful foreclosure or paying for a more expensive modification.
News Release: Throwing Out Derivatives Reform Strengthens Too-Big-To-Fail Oligopoly
We strongly disapprove of the new proposal to change rules for derivatives trading announced in today’s meeting of the Commodity Futures Trading Commission (CFTC). The requirement that complex derivatives be traded whenever possible in open, competitive markets was a crucial element of Dodd-Frank derivatives market reforms.