Today’s proposals from the Securities and Exchange Commission would shed greater light on the investments and activities of what’s now become a massive $11.5 trillion private market.
Treasury Secretary Janet Yellen should prioritize repealing the 2019 Trump-era guidance that prevents federal regulators from properly policing institutions whose collapse would imperil the financial system.
AFR joined a letter to Congress in support of The Reforming Disaster Recovery Act.
AFREF and 30 allies sent a letter to Secretary of the Treasury Janet Yellen urging her to prioritize restoring FSOC’s ability to fully execute its authority under Dodd-Frank by repealing the SIFI 2019 guidance; developing a data strategy for OFR; and using the statutory authority given in Title I of Dodd-Frank to apply a racial equity lens when designating a non-bank financial company as a SIFI.
AFREF submitted comments to the National Credit Union Administration on its strategic plan for 2022-26, urging further incorporation and consideration of climate change, environmental, economic, and racial justice within its strategic goals and regulatory agenda.
AFREF joined a letter in response to the CFPB’s request for comment on Home Mortgage Disclosure Act (HMDA) data.
AFREF joined two letters, one to the CFPB and one to HUD, FHFA, VA and USDA, both calling on the agencies to halt foreclosure for 60 days when a homeowner has submitted an application for HAF funds and the servicer has been notified by the HAF administrator.
AFREF led a letter calling on the SEC’s Division of Corporation Finance to rescind the 2010 Ford Motor Credit no-action letter that exempts Credit Rating Agencies from legal liability.
AFREF joined a letter in response to the Department of Education’s request for comment on accrediting agencies up for review in February 2023.
The nomination of the highly qualified Sarah Bloom Raskin, Lisa Cook, and Philip Jefferson to the Fed is a very welcome step forward towards a better-regulated Wall Street. The Fed needs to steer a new course that begins with a reversal of the deregulation of the Trump era. This work must continue with pro-active regulation and supervision of Wall Street.