Wall Street Regulation Needs to be Tougher,  Americans Overwhelmingly Agree in New Poll
July 18, 2014 – 11:17 am | Comments Off

Nearly five years after the financial crisis, a new national poll – conducted on behalf of Americans for Financial Reform and the Center for Responsible Lending – shows continued bipartisan support for tougher regulation of the financial industry and its products and services. A sweeping majority of voters (78%) believe that financial rules and enforcement need to be strengthened, and that Wall Street’s bad practices have not changed enough.

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AFR and over 450 Groups Urge CFPB to Stop the Payday loan Debt Trap
October 23, 2014 – 1:09 pm

AFR was joined by 464 civil rights, consumer, labor, faith and community organizations from all 50 states in a letter urging the CFPB to put in place strong rules that will end abusive practices in ‘quick fix’ consumer lending: such as payday, auto-title and installment loans.

AFR Policy Director Marcus Stanley Gives Brookings Presentation on Systemic Risk Regulation of the Insurance Industry
October 16, 2014 – 3:26 pm

AFR’s Policy Director, Marcus Stanley, gave a presentation at Brookings Institution’s forum on systemic risk regulation of the insurance industry.

AFR in the News: Inside the NY Federal Reserve (BBC)
October 10, 2014 – 4:55 pm

“There are really two elements to this story,” Marcus Stanley of Americans for Finance Reform said. “One is the internal Federal Reserve self-evaluation… that did say that Federal Reserve supervisors tended to be overly deferential to the banks that they supervise [and] tended to be reluctant to take action and reluctant to raise strong criticisms. And then… you get these tapes made by Carmen Segarra which appear to show this exact sort of deferential behavior.”

AFR and More Than 50 U.S. and International Groups Warn that TTIP Could Undermine Financial Reform
October 1, 2014 – 10:03 am

In a letter to U.S. and EU trade negotiators and finance ministers, more than 50 civil society groups on both sides of the Atlantic have come together to warn that the Transatlantic Trade and Investment Partnership (TTIP) currently under discussion could undermine new financial regulations and potentially create significant risks to the global financial system, as well as to investors and consumers.

AFR in the News: Finding Out How Much the Boss Earns (Washington Post)
September 30, 2014 – 5:18 pm

“This rule is not a cure-all or a magic bullet,” says Lisa Donner, executive director of Americans for Financial Reform. “It’s relevant information for investors about how a company works. This disclosure is one piece of the puzzle, but it’s useful to have public and standard — or relatively standard — information.”

AFR Welcomes New Military Lending Act Rules
September 26, 2014 – 9:59 am

We urge the Department of Defense to proceed expeditiously to finalize and implement this new proposal, which would carry out the MLA’s clear intent by providing broad protection for servicemembers against loans designed to lead them into a cycle of debt. We hope to see the Consumer Financial Protection Bureau move forward with its own rulemaking process soon in this important area.

AFR in the News: Court Ruling Strengthens Swap Rules Overseas (Bloomberg)
September 23, 2014 – 9:15 am

“Marcus Stanley, policy director for Americans for Financial Reform, a coalition including the AFL-CIO labor federation, said the decision should bolster the agency’s efforts to curb recent steps by Wall Street to escape Dodd-Frank by shifting their overseas trading operations. ‘I really hope that this decision is going to stiffen the CFTC’s backbone,’ Stanley said in a phone interview.”

AFR in the News: House Votes to Audit Fed and Deregulate Wall Street (Huffington Post)
September 23, 2014 – 9:13 am

Although the GOP is eager to expose the Fed’s dealings with big banks, it is equally anxious to dole out favors to financial operators… One deregulation bill, H.R. 5405, would exempt a significant swath of the market for derivatives — the complex financial products at the heart of the 2008 meltdown — from Dodd-Frank’s new trading rules. Americans for Financial Reform, the leading voice for Wall Street accountability on Capitol Hill, came out strong against H.R. 5405 and the other deregulation bill, H.R. 5461.