Americans for Financial Reform

Letter to Congress: AFR Opposes HR 2209 and HR 3857

“…we are writing to express our opposition to HR 2209 and HR 3857. HR 3857 is a poorly drafted message bill that contains an overly vague mandate to the Federal Reserve and FSOC that would be difficult to interpret and could increase financial risk. HR 2209 mandates that banking regulators classify investment grade, readily marketable municipal debt obligations as level 2A liquid assets under the Liquidity Coverage Ratio (LCR) rule, the strongest liquidity category under the rule outside of cash and government debt.”

Letter to Congress: AFR Urges Congress to Protect Investors, Reject HR 3868

“On behalf of Americans for Financial Reform, we are writing to urge you to oppose HR 3868, the “Small Business Credit Availability Act”. This legislation would deregulate Business Development Companies (BDCs) in a manner that would increase risk to retail investors and retirees by exposing them to greater leverage. “

Letter to Congress: AFR Opposes Legislation That Would Weaken Oversight of Giant Financial Firms

“On behalf of Americans for Financial Reform, we are writing to express our opposition to HR 1550, HR 3340, HR 3557, and HR 3738. All of this legislation would dramatically weaken the ability of the Financial Stability Oversight Council (FSOC) and the Office of Financial Research (OFR) to identify and act to control emerging risks in our evolving financial system. “

Letter to Congress: AFR Opposes HR 1309, Radical Attack on Dodd-Frank Regulation of Big Banks

“On behalf of Americans for Financial Reform, we are writing to express our opposition to H.R. 1309, the “Systemic Risk Designation Improvement Act of 2015.” This legislation dramatically weakens central elements of the Dodd-Frank Act, undermining regulatory oversight of some of the largest banks in the country. “

Joint Letter: Protect Investors, Reappoint PCAOB Chairman Doty

“We are writing in response to recent press accounts discussing the reappointment or possible replacement of the current PCAOB Chairman James Doty. We are concerned that these reports undermine Chairman Doty and his efforts to improve the independence and quality of public company audits. We urge you to lay this speculation to rest by quickly announcing his reappointment as Chair.”

Letter to Congress: AFR Joins 6 Organizations in Urging Congress to Support DoL Fiduciary Rule

“It has come to our attention that a Dear Colleague is being circulated asking Members to sign on to a letter to the Department of Labor (DoL) urging the Department, after “determining the specific changes [it] will make to the Rule,” to then provide an additional comment period before promulgating the final conflict of interest rule. We are writing to urge you not to sign on to this letter. “

Letter to Congress and Administration: AFR and 166 Organizations Oppose Financial Policy Riders

With a government shutdown narrowly averted and budget negotiations moving into a potentially volatile final stage, more than 160 national, state and local organizations are telling lawmakers and the Administration not to let the process be used to force through ideological spending riders that would block financial reform or undermine the funding or authority of the Consumer Financial Protection Bureau.

Letter to Regulators: AFR Submits Comment on the SEC’s Proposed Title VII “Bad Actor” Waiver Process

“We believe that it is important that the Commission work to establish true mechanisms for accountability. One way to do that is to develop procedures that allow for public transparency into exemptions and exclusions from prohibitions triggered by statutory disqualifications… We welcome the formalized Proposed Rule of Practice 194, which creates an opportunity for enhanced clarity for both the public and the financial industry. “

Joint Letter: AFR Joins 27 Organizations in Urging Obama Administration to Ban “Golden Parachute” Compensation Packages

“On behalf of our millions of supporters across the country, we are writing to urge you to put in place a policy for the remainder of your term that would require new administration officials coming from the financial industry to forego compensation offered by their former employers in exchange for their decisions to enter into public service.”

Joint Letter: AFR Joins 27 Organizations in Urging President Obama Administration to Ban “Golden Parachute” Compensation Packages

“On behalf of our millions of supporters across the country, we are writing to urge you to put in place a policy for the remainder of your term that would require new administration officials coming from the financial industry to forego compensation offered by their former employers in exchange for their decisions to enter into public service.”