Americans for Financial Reform

AFR Comment to OCC on Overdraft and Payday Loans

“AFR submitted comments in response to proposed guidance from the OCC addressing payday loans by banks and high-cost overdraft programs. We urged the agency to immediately take supervisory/enforcement action to stop Wells Fargo and US Bank, along with a couple of smaller OCC-supervised banks, from making payday loans. These loans undermine state laws aimed at protecting residents from high-cost loans that trap people in debt, as well as federal law aimed at protecting military service members from these loans. We also urged the OCC to at last put an end to the common bank practice of reordering customers’ transactions to drive up overdraft fees.”

AFR to Fed Re: Capital Plans

Read our comment letter to the Fed regarding capital planning here.

This Week in Wall Street Reform

Click here to view this week’s highlights and lowlights in Wall Street Reform – July 30, 2011 – August 4, 2011. Please note TWiWSR will take a break until August 26, 2011.

QRM Comment Letters

Read CRL’s letter here. Read CFA’s letter here.

AFR Bulletin: More Bank Capital Will Improve Financial Stability Without Harming the Economy

Read the bulletin here.

New Poll Details Support for Financial Reform

See a detailed slide show of the results of the poll sponsored by AFR, AARP and CRL showing broad support for financial reform here.

This Week in Wall Street Reform

Click here to view this week’s highlights and lowlights in Wall Street Reform – July 23, 2011 – July 29, 2011.

Sen. Brown (D-OH) Supports Nomination of Richard Cordray to head CFPB

Senator Brown’s remarks are below: Mr. BROWN of Ohio: Madam President, as we debate the best way to get our fiscal house in order, we must avoid, first of all, defaulting on our obligations while also working to make our economy stronger. While

Financial Regulation Lags After Dodd-Frank

Financial Regulation Lags After Dodd-Frank Fox Business July 25, 2011 — Several new financial regulations that cover the mortgage market, the epicenter of the financial crisis, were among the first to undergo rule-making. Mortgage originators now must make sure that a borrower has the ability

Financial Reform, One Year Later

Financial Reform, One Year Later Michael Krasny (KQED – San Francisco) July 25, 2011 ―Lax investment regulations and bad home loans are blamed for sparking the nation’s deepest recession in decades. In response, lawmakers Barney Frank, Chris Dodd and others introduced the Dodd-Frank Wall Street