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 More Than 50 Domestic 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.

AFR, Public Citizen Urge SEC to Finalize CEO-to-Worker Pay Ratio Disclosure Rule
September 19, 2014 – 11:08 am

A year after the SEC proposed a rule to implement a provision of Dodd-Frank requiring companies to disclose their employee pay ratio, no rule exists. There has been an overwhelming expression of support for pay ratio disclosure, and it is time for the SEC to finalize the rule.

AFR and 47 Organizations Support CFPB’s Proposal to Publish Consumer Complaint Details
September 19, 2014 – 7:52 am

AFR joined 47 organizations in supporting the CFPB’s work to make its complaint database public and accessible by consumers. This will help consumers make more informed decisions about how to choose the best products and services for their needs, and how to protect themselves from problems.

AFR Applauds CFPB’s Steps to Increase Fairness and Transparency in the Auto Lending Markets
September 18, 2014 – 5:36 pm

AFR applauds CFPB steps to bring greater fairness and transparency to the auto lending market, which they did today by hosting a field hearing focused on auto finance issues. The CFPB also announced details on a proposed rule to bring auto lenders under its oversight; a crucial step toward creating a fairer and more transparent auto lending market for consumers.