team-afr – Page 23 – Americans for Financial Reform Education Fund

Letter to Regulators: AFR Opposes SoFi’s Deposit Insurance Application

team-afrJuly 19, 2017Letters to RegulatorsComments are off for this post

“…The essence of SoFi’s application is a request to seek the benefits of federal deposit insurance without subjecting SoFi itself or its private equity owners to the well-founded requirements for bank holding companies. The FDIC should not approve the application to facilitate this regulatory arbitrage. …If its application is granted, SoFi will be the first new ILC to secure deposit insurance in over a decade. That will send a clear signal to the marketplace that the FDIC intends once again to approve ILC deposit insurance applications. FDIC should not grant SoFi’s application and allow the ILC loophole to be revived.”

Letter to Regulators: AFR Calls on the Dept of ED to Enforce, Not Dismantle, Borrower Defense and Gainful Employment

team-afrJuly 12, 2017Letters to RegulatorsComments are off for this post

Americans for Financial Reform submitted comments to the Department of Education in strong opposition to any delay to or re-opening of the Borrower Defense to Repayment and Gainful Employment regulations. The Department of Education (the “Department”) has already conduced the arduous process of negotiated rulemaking on both of these rules, where all constituencies were able to weigh in. Establishing new negotiated rulemakings on these rules is a waste of taxpayer money and government resources.

Letter to Regulators: AFR Calls on CFTC To Strengthen Risk Controls for Derivatives Dealers

team-afrMay 16, 2017Letters to RegulatorsComments are off for this post

The full letter is linked below: Americans for Financial Reform Comment Swaps Entity Capital and Liquidity Requirements

Joint Letter: AFR Joins 15 Organizations Praising, Pressing CFPB on Discriminatory Credit Practices

team-afrMay 5, 2017Letters to RegulatorsComments are off for this post

“We welcome the CFPB’s update of Regulation B, which implements the ECOA, and have joined in the comprehensive comments filed by the National Community Reinvestment Coalition. More changes are needed to Regulation B, however, to give consumers stronger protections against discrimination in the credit marketplace.”

AFR, 29 Orgs Raise Concerns Over New Ownership of Predatory Colleges

team-afrMay 4, 2017Letters to RegulatorsComments are off for this post

AFR joined 29 other individuals and organizations representing students, consumers, veterans, servicemembers, and civil rights to send a letter to Education Secretary DeVos raising concerns around the questionable sale of EDMC to the Dream Center Foundation.

Letter to Regulators: AFR Calls on CFTC to Forcefully Regulate High-speed Automated Trading

team-afrMay 2, 2017Letters and Statements, Letters to RegulatorsComments are off for this post

“…We urged the Commission to be more aggressive in laying out structural reforms to the markets and more specific limits on dangerous automated trading practices. The current Supplemental NPRM does not change our basic assessment, as it maintains the basic framework of the 2015 NPRM, with no movement toward additional specificity in risk limits or risk control requirements or reduced discretion for market actors in designing and implementing risk controls…

Letter to the Regulators: AFR, 31 Orgs Support the CFPB’s Student Loan Servicer Data Collection

team-afrApril 24, 2017Letters to RegulatorsComments are off for this post

AFR and 30 other organizations sent a sign-on letter to the Consumer Financial Protection Bureau in support of their proposed student loan servicing data collection initiative. Compiling such metrics and borrower outcomes would benefit market participants, federal and state agencies, policymakers, and borrowers. Obtaining a clearer view of the student loan market overall will help inform all market participants on how best to serve student loan borrowers.

Letter To Regulators: Department of Labor Must Not Weaken The Conflict of Interest Rule

team-afrApril 18, 2017Financial Reform News, Letters to RegulatorsComments are off for this post

“On behalf of Americans for Financial Reform, we are writing to express our support for the Department of Labor’s (DOL’s) conflict of interest rule or “Fiduciary Duty” rule and our strong opposition to eliminating or weakening the rule. This rule strengthens protections for retirement savers by requiring individuals or entities which provide retirement investment advice […]

Letter to Regulators: Fifty-One Organizations Urge Trump Administration To Protect Investors, Preserve The Conflict of Interest Rule

team-afrApril 18, 2017Letters to RegulatorsComments are off for this post

“We, the undersigned 51 organizations, are writing to express our strong support for the Department of Labor’s (DOL’s) conflict of interest or “Fiduciary Duty” rule and our strong opposition to eliminating or weakening the rule. This rule strengthens protections for retirement savers by requiring financial advisers and their firms to provide retirement investment advice that […]

Letter to Regulators: AFR Opposes Proposed Delay Of Department of Labor Rules To Protect Retirement Investors

team-afrMarch 17, 2017Letters to Regulators, Statements and Press ReleasesComments are off for this post

AFR submitted the comment letter linked and excerpted below that strongly opposes the Department of Labor’s proposal to delay fiduciary protections for retirement investors.

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