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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AFR Statement: Student Aid Enforcement Unit, Department of Education Must Grant Swift Relief to Defrauded Corinthian Students
February 8, 2016 – 4:55 pm

“It is good that the Department of Education recognizes the depth of the problems of fraud at too many for-profit institutions of higher education, as evidenced by the formation of the Student Aid Enforcement Unit. But hundreds of thousands of borrowers from the now-bankrupt Corinthian Colleges, Inc. remain on the hook for federal student loans, and continue to accrue interest. This is despite the fact that the illegal actions identified in Department enforcement actions against certain Corinthian schools were endemic throughout the entire chain.”

Letter to Regulators: AFR, 50 Orgs Suggest Improvements to Dept of ED’s Proposed Complaint System
February 8, 2016 – 4:44 pm

“As advocates for students, consumers, veterans, faculty and staff, civil rights and college access, we believe the systematic tracking and reporting of student and borrower complaints is essential to providing quality customer service, ensuring college and loan servicer and collector accountability, and preventing waste, fraud, and abuse of taxpayer dollars.”

AFR in the News: More oversight needed to curb abuse, reform hedge-fund industry (Orlando Sentinel)
February 5, 2016 – 9:48 pm

“Hedge funds were major traffickers in the toxic securities that brought down the financial system eight years ago. Because many of them now market aggressively to pension funds and institutional investors, ordinary retirement savers can lose big when hedge funds fail to generate returns extravagant enough to justify their extravagant charges. More and more of these funds use stealth tactics to build up potent but undetected market positions, enabling them to aggressively bring about the results they’re seeking — results that serve their interests at the consistent expense of workers, communities, and the wider society.”

Letter to Congress: AFR and CFA Urge Congress to Protect Investors, Oppose HR 1675
February 3, 2016 – 10:14 am

” On behalf of Americans for Financial Reform (AFR), we are writing to express our strong opposition to HR 1675, the “Encouraging Employee Ownership Act of 2015”. This legislation contains five provisions, four of which would significantly harm the ability of the SEC to protect investors. At a time when markets are turbulent and investment products are growing ever more complicated, Congress should not act to make financial markets even more dangerous for investors.”

Letter to Congress: AFR, 37 Organizations Oppose HR 766, Urge Congress Not to Give Banks a Free Pass on Fraud
February 2, 2016 – 10:11 am

“The undersigned community, consumer and civil rights organizations strongly oppose H.R. 766, the Financial Institution Customer Protection Act of 2015, introduced by Representative Luetkemeyer. The bill will hamper critical Department of Justice and banking regulator efforts to detect fraud and money laundering, putting consumers and financial institutions at risk of serious financial loss.”

Letter to Regulators: AFR Supports International Insurance Regulators in Targeting Activities that Create Systemic Risk
January 25, 2016 – 3:16 pm

“Americans for Financial Reform (“AFR”) appreciates this opportunity to comment Public Consultation on Non-Traditional Non-Insurance Activities and Products (the ‘Consultation’) by the International Association of Insurance Supervisors (the “IAIS”). We believe that improvements in insurance company regulation are necessary to address such systemic risks. “

Letter to Regulators:AFR Submits Comment on the De Minimis Exception to CFTC’s Swap Dealer Registration Threshold
January 19, 2016 – 6:40 pm

“We commend the Commission and the Division of Swap Dealer and Intermediary Oversight staff for their work in compiling this Preliminary Report. We believe that the Commission should continue on the path laid out in the final rule and reduce the de minimis threshold to $3 billion after the $8 billion phase-in threshold terminates on December 31, 2017. We do not see sufficient evidence in the report to justify either maintaining the current level, or increasing it.”

AFR Statement: SEC Should Call Big Banks to Account for Unfair Dealings with Municipalities
January 19, 2016 – 1:14 pm

“It is disappointing that the Commission has not already taken such steps. But a call from the people and the State of Illinois could and should spur the SEC to action to recover for the public big-bank gains that resulted from violations of their obligations to do business in a fair and transparent way with these public-sector clients. “