AFR Supports “The Wall Street Trading and Speculators Tax Act”
AFR signed onto a letter along with more than 60 organizations supporting “The Wall Street Trading and Speculators Tax Act” sponsored by Senator Harkin and Rep. DeFazio.
Tag Archives: Congress
Financial Reform News: Top Financial Watchdogs Question Senate Bill to Curtail Their Independence
Six financial regulators are challenging the logic of a Senate bill (S. 3468) that would empower the President to direct their agencies (among others) to submit all proposed rules to the White House Office of Management and Budget for prior review. The bill, known as
AFR Comment Letter: Derivatives Exemption Too Broad
AFR submitted a comment letter opposing the CFTC’s overly broad exemption for derivatives traded between bank affiliates.
Public Interest Groups Urge Opposition to HR 2827
AFR, The Leadership Conference, AFL-CIO, AFSCME, U.S. PIRG, Public Citizen, and Consumer Federation of America. While this legislation is an improvement on earlier versions of the bill, it still represents a significant weakening of taxpayer protections created by the Dodd-Frank Act to prevent fraud, abuse, and deception in Wall Street financial dealings with municipalities.
More than 50 Organizations and Individuals Sign Letter of Opposition to S. 3468
AFR joined more than 50 organizations and individuals in signing onto a letter opposing S. 3468. The Independent Regulatory Analysis Act (S.3468) is a far-ranging proposal that would create major changes and lead to significant delays in the work of independent agencies. As all the major financial regulatory agencies are independent agencies this would have a profound effect on the progress of financial reform at agencies ranging from the Federal Reserve to the Securities and Exchange Commission.
AFR Letter: Oppose S. 3468 “The Independent Agency Regulatory Analysis Act”
AFR sent a letter of opposition to members of Congress regarding S. 3468, The Independent Agency Regulatory Analysis Act, which would give the Office of Information and Regulatory Affairs (OIRA) jurisdiction over all independent agencies in the federal government, including all of the financial regulatory agencies.
Sign on Letter: Support CFPB’s Overseas Remittances Rule
AFR signed onto a letter supporting the CFPB’s overseas remittances rule, which requires remittance transfer providers to provide essential information to consumers about the actual amount of money to be received by their family in the foreign country. The rule makes remittance providers liable for agents acting on their behalf and includes an error resolution procedure to resolve problems.
AFR Letter: Oppose H.R. 2446
AFR sent a letter to members of Congress urging them to oppose H.R. 2446. This legislation will exempt payments related to homeowner warranties (also known as home service contracts) from the Real Estate Settlement Procedure Act’s ban on kickbacks and referral fees. We believe exempting payments related to these products from the ban on kickbacks and referral fees would be harmful to consumers.
AFR and CFA Letter Endorsing S. 3416
AFR and CFA sent a letter endorsing S. 3416, a piece of legislation which would enable the SEC to impose more meaningful fines on those who violate the securities laws and perpetrate fraud.
AFR Letter: Oppose H.R. 6139
AFR sent a letter to members of Congress urging them to oppose H.R. 6139. This legislation would weaken consumer protection against financial abuses, undermine the authority of the CFPB over a huge swath of consumer financial products and services, and override state consumer protection laws through preemption.