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S 2155: A Gift to Wall Street!
S 2155: A Gift to Wall Street!
March 16, 2018 – 3:09 pm | Comments Off on S 2155: A Gift to Wall Street!

Bipartisan majorities in the House and the Senate chose to commemorate the 10th anniversary of the worst financial crisis since the Great Depression by handing the bank lobby a package of deregulatory gifts, increasing the risks to financial stability and the likelihood of consumer abuse, including racial discrimination in lending. This legislation, signed into law on May 24, won’t serve families or communities, nor is it policy that most people support. But Wall Street and its friends in Congress had a tougher time than they ever expected because Americans who know better refused to let the bill pass without a fight.

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AFR in the News: Business Groups Back Kavanaugh Nomination; Consumer Advocates See Danger (AP)
June 25, 2018 – 9:03 pm

“A seat on the Supreme Court would let Kavanaugh and his allies expand attacks on the ability of government to regulate and enforce the rules on behalf of ordinary people,” said Linda Jun, senior policy counsel at Americans for Financial Reform.

Congressional Testimony: AFR Policy Director Marcus Stanley testifies to House Financial Services Committee.
July 18, 2018 – 3:53 pm

On July 17, 2018, AFR Policy Director Marcus Stanley offered testimony at a hearing entitled “Examining Capital Regimes for Financial Institutions,” before the Financial Institutions and Consumer Credit Subcommittee of the House Financial Services Committee.

Letters to Regulators: AFR commented on Federal Reserve, OCC, FDIC proposed rule regarding the implementation of CECL accounting rules.
July 13, 2018 – 11:00 am

Americans for Financial Reform sent a letter to the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation commenting on a proposal …

Letters to Congress: AFR and CFA sent a letter to the House Financial Services Committee regarding eight bills in today’s markup.
July 11, 2018 – 10:01 am

View or download PDF version of the letter.
 
July 11, 2018
Dear Representative:
On behalf of Americans for Financial Reform (AFR) and the Consumer Federation of America (CFA), we are writing to oppose four of the bills …

AFR Statement: Kavanaugh on Scotus Would Signal Attack on Wall Street Regulation
July 10, 2018 – 12:41 pm

Kavanaugh found that the structure of the Consumer Financial Protection Bureau was unconstitutional but was overturned in a thoughtfully reasoned decision that found many faults with his analysis. Independent agencies, which have existed in the United States for nearly a century, are vital institutions for creating a government that does not only serve wealthy interests.

Letters to Congress: AFR urges House members to oppose harmful financial deregulation in HR 5877 and HR 4537.
July 10, 2018 – 11:03 am

Americans for Financial Reform sent a letter to the House of Representatives urging members to oppose the harmful financial deregulation in HR 5877 and HR 4537.

AFR Event Upcoming July 24th: Regulating Wall Street — Ten Years Later, Where Do We Stand?
July 2, 2018 – 2:21 pm

Click on the announcement below to see the details of AFR’s July 24th event marking the tenth anniversary of the financial crisis, and to RSVP
Regulating Wall Street Ten Years Later July 24th Save The Date
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Letters to Regulators: AFR commented on a proposal that would cut the minimum required leverage ratio at the largest U.S. banks.
June 26, 2018 – 11:32 am

Americans for Financial Reform sent a letter to the Federal Reserve Board of Governors and the Office of the Comptroller of the Currency to comment on a proposal that would reduce the minimum leverage ratio …

AFR Statement: Senate Banking Committee Takes Up Dangerous Securities Bills
June 26, 2018 – 11:32 am

“The Senate Committee on Banking, Housing, and Urban Affairs meets today to conduct hearings on a set of bills ostensibly designed to increase access to capital. Several of these bills are part of a dangerous agenda to rollback securities markets regulations. The deregulation of private capital markets contemplated in these bills would disproportionately affect small, retail investors vis-à-vis large investors and would undermine the effective regulations and investor protections that are fundamental principles of stable and enlarging U.S. public capital markets. “