Fact Sheet: Proposed Capital One-Discover Merger Fails to Meet Bank Merger Act Requirements

The proposed acquisition of Discover by Capital One would create the sixth-largest bank in the United States, with $624 billion in domestic assets. This transaction fails to meet the public interest conditions under the Bank Merger Act that directs banking regulators to reject mergers, like the Capital One-Discover transaction, that fail to further the convenience […]

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Letters to the Regulators: Letter to the Fair Housing Finance Agency in Support of the Title Acceptance Pilot Program

Americans for Financial Reform Education Funded joined with the National Consumer Law Center, the Consumer Federation of America, and other advocacy groups to express our support for recent announcements from Fannie Mae and Freddie Mac, reflecting their intention to explore carefully-crafted pilot programs aimed at reducing closing costs for homeowners–specifically, a “title acceptance” pilot program. […]

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Letters to Congress: Letter Urging the House Appropriations Committee to Reject Harmful Riders and Undo Funding Cuts

AFR signed on to a letter urging leaders of the House Appropriations Committee to undo irresponsible funding cuts and reject the harmful riders in the Fiscal Year 25 Commerce, Justice, Science, and Related Agencies (FY25 CJS) Appropriations legislation passed by the House Commerce, Justice, and Science (CJS) Subcommittee. The post Letters to Congress: Letter Urging […]

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Letters to the Regulators: Letter Urging the Treasury and the IRS to Finalize the Stock Buybacks Excise Tax Rule

AFREF and 23 signatories submitted a comment letter calling on the Treasury Department and the IRS to finalize a rule implementing the 1% stock buybacks excise tax with strong anti-avoidance provisions. The post Letters to the Regulators: Letter Urging the Treasury and the IRS to Finalize the Stock Buybacks Excise Tax Rule appeared first on Americans […]

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Letters to the Regulators: Letter to the Public Company Accounting Oversight Board in Support of a Public Reporting Requirement

AFREF and 11 organizations submitted a comment letter to the Public Company Accounting Oversight Board (PCAOB) in support of a proposal to require public accounting firms to publicly report specified firm- and engagement-level metrics. If finalized, these metrics would provide investors, audit committees, and other stakeholders critical information to compare audit firms, make better-informed decisions, […]

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Letters to the Administration: Letter to President Biden to Nominate a Strong Progressive Leader to Head the FDIC

AFREF, Public Citizen, and other allies sent a letter to President Biden urging him to nominate a strong progressive leader to head the Federal Deposit Insurance Corporation (FDIC) at this critical juncture. The post Letters to the Administration: Letter to President Biden to Nominate a Strong Progressive Leader to Head the FDIC appeared first on […]

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Letters to the Regulators: AFR Submits Filing Opposing Capital One-Discover Merger for Failing to Meet Bank Merger Act Requirements

AFREF submitted a second brief with the Office of the Comptroller of the Currency and Federal Reserve calling on the banking regulators to reject the proposed Capital One-Discover merger. The proposed Capital One-Discover merger would have significant anti-competitive impacts that would harm consumers and communities. The merger also fails to meet the requirements and conditions […]

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Letters to the Regulators: Letter in Support of The Basel III Endgame and Capital Proposals

AFREF and more than thirty allied organizations signed onto a letter calling for the banking agencies to finalize strong bank regulatory capital proposals. These are urgently needed to increase the large banks’ safety and soundness, strengthen financial system stability, and preserve ordinary people’s access to financial services. The post Letters to the Regulators: Letter in […]

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Letters to Congress: Letter in Opposition of Egregious Deregulatory Bills Scheduled for Markup

AFR and partners led a letter opposing a set of financial institution bills scheduled for markup tomorrow, May 17th in the House. Title I of the first bill (H.R. 8337) is particularly egregious and would result in ~100 banking organizations being removed from CFPB oversight, among other negative consequences for Qualified mortgage requirements, the Durbin […]

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Letters to Congress: Letter to the House Financial Services Committee in Opposition to Profoundly Damaging Legislation

Americans for Financial Reform (AFR) wrote a letter to the House Financial Services Committee expressing our strong opposition to legislation that the House Financial Services Committee (HFSC) is scheduled to consider this week that would amend the federal securities laws in ways that could be profoundly damaging to American workers and “mom and pop” investors. […]

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