Updated AFR Report: Financial Sector Lobbying and Campaign Spending Top $1.4 Billion for 2014 Election Cycle – $1.9 million a day
March 18, 2014 – 10:34 am | Comments Off

Wall Street banks and financial interests reported spending more than $1.4 billion to influence decision-making in Washington. That two-year total works out to an average of $1.9 million a day or about $2.6 million to elect or influence each of the 535 members of the Senate and House of Representatives.

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AFR in the News: Clinton’s populist theme heartens liberal donors (Washington Post)
April 16, 2015 – 12:05 pm

“During her debut swing through Iowa this week, the former secretary of state pledged to promote a progressive agenda, stressing that ‘the deck is stacked in favor of those already at the top.’ That language struck a chord with members of [the Democracy Alliance]… [T]he organization is urging donors to contribute to an expanded suite of advocacy groups and think tanks devoted to economic inequality including Americans for Financial Reform, the Economic Policy Institute and the National Employment Law Project.”

AFR Statement: Elizabeth Warren Lays Out the “Unfinished Business” of Financial Reform
April 16, 2015 – 10:13 am

“Americans for Financial Reform has steadily advocated for many of the policy ideas outlined in her speech, and applauds this heightened push to advance them… Even more important, we support Senator Warren’s call for a renewed effort both to carry out the Dodd-Frank reforms and, based on the lessons of the implementation process up to now, move beyond ‘technocratic’ measures that can be easy for the biggest banks to outmaneuver toward a more ‘structural’ approach and the promise of a fundamentally simpler, safer and fairer financial system.”

AFR in the News: How Warren’s Banking Agenda Could Influence Clinton (American Banker)
April 16, 2015 – 9:40 am

“Marcus Stanley, policy director at Americans for Financial Reform, said Warren’s speech lays ‘down the gauntlet for people in terms of taking specific, strong steps — including steps that go beyond Dodd-Frank — to reform Wall Street. That’s very meaningful in terms of the challenge it puts to people to say whether they’re in favor of that or not,’ he said.”

Joint Statement: AFR and 40 Major Groups Applaud Public Release of DOL’s Proposal to Protect Americans’ Retirement Savings
April 14, 2015 – 4:18 pm

“Members of the SaveOurRetirement.org coalition and a diverse collection of public interest groups, civil rights leaders, labor unions, professional organizations and others today commended the public release of the Department of Labor’s (DOL) proposed rule to protect Americans from conflicts of interest when brokers and other financial advisers give retirement investment advice.”

Letter to Congress: Do Not Hamstring the CFPB, Oppose Budget-Cutting Provision of HR 1195
April 14, 2015 – 3:57 pm

“…we are writing in strong opposition to the addition of language to H.R. 1195 that would pay for new procedural requirements on the CFPB by cutting or capping its budget, thereby reducing its ability to carry out its important consumer protection mission.”

AFR in the News: General Electric Hands Dodd-Frank Its Biggest Victory Yet (Huffington Post)
April 13, 2015 – 6:36 pm

“‘I see this as a win not just for too-big-to-fail, but for the extension of the regulatory perimeter in Dodd-Frank,” said Marcus Stanley, policy director at Americans for Financial Reform. “You basically had one of the largest consumer and investment banks in the country stapled onto a major industrial corporation, and because it was part of this conglomerate, it wasn’t being regulated like a major bank. When the Fed changed that regime, GE decided it wouldn’t be as profitable.'”

AFR in the News: Jon Stewart Interviews Senator Elizabeth Warren
April 10, 2015 – 11:16 am

“We got organized… We started getting groups like – God bless ‘em – AARP, Consumer Union, the AFL-CIO, the NAACP, LaRaza… More than a hundred groups got organized into Americans for Financial Reform. They pushed, and we got that consumer agency passed into law.” – Senator Elizabeth Warren, describing the struggle to establish the Consumer Financial Protection Bureau.

Letter to Congress: AFR Opposes Legislation that Would Undercut Protections for Consumers, Undermine the CFPB
April 10, 2015 – 9:28 am

“We are writing to urge your opposition to the following series of bills, which are expected to come up for a vote in the House of Representatives the week of April 13th. Many of these bills would undercut important protections on mortgages, and re-open the door to higher fees and other practices that contributed to the devastating housing crisis. Others would undermine or put barriers in front of the important work of the Consumer Financial Protection Bureau (CFPB), and are part of a strategy to weaken the CFPB and disrupt the good work the Bureau is doing preventing financial tricks and traps.”