Letters to Regulators: Letter to the Federal Reserve on Access to Fed Master Accounts and Financial Services

AFREF submitted a comment to the Federal Reserve on its “Proposed Guidelines for Evaluating Account and Service Requests” urging the Federal Reserve to limit access to its payments systems to well-regulated and well-supervised depository institutions to safeguard rules that protect consumers, ensure the stability of the payments system, and require community reinvestment. The post Letters […]

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Letters to Regulators: AFREF Letter to the Department of Education on Upcoming Negotiated Rulemaking

AFREF sent a letter to the Department of Education calling for several topics to protect borrowers in the upcoming negotiated rulemaking, and also urging the Department to administratively cancel student debt. The post Letters to Regulators: AFREF Letter to the Department of Education on Upcoming Negotiated Rulemaking appeared first on Americans for Financial Reform.

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Letters to Regulators: Letter Urging Financial Regulators to Consider Fair Lending Risks in Use of Artificial Intelligence

AFREF and 22 organizations submitted comments in response to the regulators’ Request for Information and Comment on Financial Institutions’ Use of Artificial Intelligence, including Machine Learning, urging the financial regulators to consider fair lending risks of using artificial intelligence and machine learning and enact safeguards to prevent disproportionate adverse impacts from the use of AI/ML […]

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Letters to Regulators: Letter Asking for Restored Supervisory and Enforcement Tools in Mortgage Servicing Rules

AFREF, NCLC, NFHA and NHLP sent a letter to the CFPB, FRB, FDIC, OCC, NCUA and CSBS asking the agencies to update the April 3, 2020 Joint Statement on Supervisory and Enforcement Practices Regarding the Mortgage Servicing Rules in Response to the COVID-19 Emergency and the CARES Act to restore key supervisory and enforcement tools […]

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Joint Statement: Nation’s Top Student Loan Watchdog Post Remains Vacant 150 Days After CFPB Director Promised to “Quickly” Fill the Role

Tomorrow marks one hundred fifty days since Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger committed to quickly filling the nation’s top student loan watchdog position—a role that has been vacant for almost a year. As student debt nears $1.6 trillion and predatory practices plague the market, the Student Borrower Protection Center (SBPC) and Americans for Financial Reform Education Fund (AFREF) are releasing a roundup of failures by the current CFPB Director to stand up for student loan borrowers.

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