AFR Letter on FHFA Guarantee Fees
In a joint letter, AFR and allied organizations challenge FHFA plan to charge higher guarantee fees in states with strong consumer protection laws.
In a joint letter, AFR and allied organizations challenge FHFA plan to charge higher guarantee fees in states with strong consumer protection laws.
Treasury, says AFR’s Marcus Stanley, has decided to exempt “a significant derivatives market from key Dodd-Frank reforms meant to protect the public from financial instability.”
“It was created… to protect families and the market from dangerous or explosive loans, the same way the Consumer Product Safety Commission protects against explosive toasters.”
“What alarms me most,” says MIT’s John Parsons, “is the narrow scope of the questions that the Staff posed, even had they bothered to do a thorough analysis of those questions.”
In a letter to the Senate, 40 organizations ask the Senate to reject an amendment granting a legal safe harbor to all QM lenders.
Additional investor safeguards should be considered, say two of the five SEC commissioners.
Facing wide criticism, Senate homeland security committee drops plan for a markup, promises to hold a hearing instead.
SEC staff memo is faulted for ignoring significant issues and overlooking evidence pointing to the price impacts of copper-supply hoarding.
AFR urges regulators to strengthen their original proposal and not to be swayed by exaggerated industry concerns about market liquidity.
On Nov. 8, 2012, AFR and the National Association of Consumer Advocates co-hosted this free webinar on abusive auto finance practices.