AFR Conference: Looking Back, and Ahead, on the Fifth Anniversary of the Dodd-Frank Act
July 22, 2015 – 3:19 pm | Comments Off on AFR Conference: Looking Back, and Ahead, on the Fifth Anniversary of the Dodd-Frank Act

Senators Sherrod Brown and Elizabeth Warren joined regulators and experts for a discussion of the progress made, and the work yet to be done, in building a financial system that is safer and fairer and does a better job of serving the real economy and the country as a whole.

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Fact Sheet: Don’t Deregulate Large Regional Banks
November 19, 2015 – 12:45 pm

“Large regional banks like Washington Mutual, Countrywide, and Wachovia all failed during the financial crisis and placed a major strain on the financial system when they did so. These banks also played an important role in the epidemic of irresponsible mortgage lending leading up to the crisis.”

Fact Sheet: Community Banks Are Alive And Well Under Dodd-Frank
November 19, 2015 – 12:39 pm

“Community Banks Have Returned to Profitability: The percentage of community banks that are profitable has increased every year since 2009. Over the first half of 2015, almost 95% of the nation’s 5,880 community banks showed a profit. Return on Equity is Up: Overall profit (Return on Equity) at community banks has also increased every single year since 2009, reaching a healthy 8.9% so far in 2015.”

AFR Statement: The House Puts Its Seal of Approval on Discriminatory Auto Lending
November 19, 2015 – 11:04 am

“Supporters of the “Reforming CFPB Indirect Auto Financing Guidance Act,” which passed by a vote of 332 to 96, have tried to hide behind a smokescreen of baseless questions and false claims supplied to them by industry lobbyists. But the clear intent of this bill is to block the Consumer Financial Protection Bureau (CFPB) from taking action to combat lending practices that lead to African-American as well as Hispanic and Asian-American borrowers being charged higher interest rates on auto loans.”

Nominations: AFR, 6 Organizations Urge President Obama and Secretary Lew to Nominate Candidates Committed to Financial Reform to the CFTC
November 18, 2015 – 10:00 am

“We, the undersigned organizations, are writing regarding the current open seats for Commissioners at the Commodity Futures Trading Commission (CFTC). It is vital that you nominate individuals who have both the publicly demonstrated commitment to financial reform and the financial markets expertise that is necessary to complete the implementation of crucial Dodd-Frank mandated reforms of our financial and commodity derivatives markets. “

AFR Event: Hedge Funds & Private Equity – Transferring Wealth Upwards
November 17, 2015 – 10:51 am

“Do private funds drive positive change and improve efficiency? Or do they drive short-termism, job losses and systemic risk in our markets? Regulators have only just begun to shine a light on these funds, revealing a host of problems and raising many more questions about their operations. “

Memo: Who Really Benefits From Senator Shelby’s Financial Deregulation Proposal?
November 17, 2015 – 10:07 am

“Earlier this year, Senate Banking Chair Richard Shelby introduced the “Financial Regulatory Improvement Act of 2015” — a massive bill that gives a preview of the kind of regulatory rollbacks the financial industry will try to attach to end-of-year funding bills. In fact, Senator Shelby has already placed the entire bill into appropriations legislation that passed the relevant committee earlier this year.”

AFR in the News: Dozens Of Democrats Are About To Vote For Racial Discrimination At Car Dealerships (Huffington Post)
November 17, 2015 – 8:18 am

“‘Car dealers and lenders are attacking the guidance because they do not want the CFPB to enforce antidiscrimination laws in car lending,’ the nonprofit group Americans for Financial Reform wrote in a September letter to lawmakers. ‘They have known for decades that car dealer markups lead to discriminatory lending, and they would prefer the CFPB ignore this particular injustice.'”

Letter to Regulators: AFR Calls on IRS to Close Tax Loopholes for Private Equity Firms
November 16, 2015 – 5:11 pm

“The undersigned organizations are writing to provide comments to the Treasury Department (“Treasury”) and the Internal Revenue Service (“IRS”) on the proposed regulations relating to disguised payments for services between private equity partnerships and partners under Section 707(a)(2)(A) of the Internal Revenue Code. We strongly support the proposed regulations to close the loopholes in the tax code that permit private equity firms to lower their taxes by converting management fees, typically taxed as ordinary income, into capital gains. “