AFR Statement on Proposals by Senators Brown and Vitter
AFR issued a statement on proposals introduced by Senators Brown and Vitter in the US Senate.
AFR in the News: Advocates Urge SEC to Start Fresh on JOBS Act Rule
“Think of the precedent… rushing forward with the aspects of the rule supported by industry while offering the faint possibility that the commission might one day get around to addressing the concerns raised by investors.”
AFR Supports Increased Funding for the CFTC
AFR sent a letter to members of Congress expressing strong support for President Obama’s proposal in the 2014 budget to increase funding for the CFTC.
Talking Points
Confirm Richard Cordray as Director of the CFPB THE CONSUMER FINANCIAL PROTECTION BUREAU’S WORK IS CRUCIALLY IMPORTANTThis is the agency created after the 2008 financial crisis to establish basic rules of fairness and transparency for mortgages, credit cards, student loans, auto loans, debt collection and
Effective Regulation of Executive Compensation Needed
AFR joined more than twenty public interest groups in sending a letter to SEC Chairman Mary Jo White advocating for effective regulation of executive compensation.
FDIC and OCC Crack Down on Bank Payday Lending (Joint Statement)
AFR joined more than 15 leaders of public interest groups in releasing a joint statement applauding the FDIC and the OCC for their proposed guidance issued this week directing banks to stop making predatory loans that trap borrowers in a cycle of debt with 300% interest.
CFPB Report Makes the Case for Action on Payday Loans
As new data confirms, they frequently serve as debt traps, with borrowers unable to repay, taking out repeated loans, and struggling to cover basic living expenses for months on end.
AFR Statement: Senate Hearing Belies Claims, Exposes Agenda, of CFPB Critics
“This is about a minority that doesn’t want a watchdog that will keep an eye on the big banks to make sure they don’t cheat their customers.” – Senator Elizabeth Warren.
Letter to SEC Chairman Urges Additional Investor Protections in JOBS Act Rulemaking
AFL-CIO, AFR, and Consumer Federation of America sent a letter to SEC Chairman Mary Jo White arguing that the Commission needs to re-propose the general solicitation rulemaking for the JOBS act in order to incorporate basic investor protections not included in the proposed rule.
AFR in the News: Foreign Banks Gear up to Pressure the Fed
The Federal Reserve has heard plenty from U.S. banks about what’s wrong with various proposed pieces of Dodd-Frank rulemaking. Now, according to Kate Davidson of Politico Pro (April 15), the Fed is “getting an earful from foreign banks and their regulators, too.”