AFR joins 10 housing groups in asking OCC to downgrade Wells Fargo for its harmful mortgage and loan servicing practices.
AFR joins 10 housing groups in asking OCC to downgrade Wells Fargo for its harmful mortgage and loan servicing practices.
OCC is asked to downgrade the bank over its Direct Deposit Advance loan product.
AFR wrote to prudential regulators concerning margin requirements for uncleared swaps, calling for the strengths in the current proposal to be maintained and also for the proposal to be improved in a number of areas.
FHFA’s proposal to charge more in states with consumer protections has elicited letters of strong opposition from housing and consumer advocates, members of Congress, legal and policy experts, Attorneys General, state legislators, and others.
In a joint letter, AFR and allied organizations challenge FHFA plan to charge higher guarantee fees in states with strong consumer protection laws.
AFR urges regulators to strengthen their original proposal and not to be swayed by exaggerated industry concerns about market liquidity.
In a joint letter, AFR urges the SEC and CFTC not to exempt this common type of financial guarantee, which closely resembles a swap, from new derivatives rules.
In an Oct. 23 letter, AFR urged the Securities and Exchange Commission not to to approve the organization and marketing of a commodity Exchange Traded Fund based on the storage of physical copper. Allowing speculators to hoard this vital industrial metal would damage the economy and set a dangerous precedent, the letter warned.
AFR commented on a set of banking agency proposals for implementing the initial Basel III rules for U.S. banks. These rules cover the definition of capital, base levels of capital for all banks, risk weighting, and exposure measurement. Upcoming rules will address capital charges for larger banks and liquidity reserves. The AFR comment called for […]
In an Oct. 9th letter to the CFPB, AFR criticized the bureau’s proposed rule for mortgage servicers, especially a provision allowing servicers to take a “dual-track” approach – considering a loan modification and pursuing foreclosure at the same time. The letter, co-signed by the NAACP, the Consumer Federation of America, Consumers Union, the AFL-CIO, and […]