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 in the News: Is Regulation the Reason Liquidity Is So Unstable? (American Banker)
August 27, 2015 – 3:48 pm

“Consumer groups are deeply skeptical of the debate, arguing it is just a talking point for the regional and big banks to weaken Dodd-Frank. ‘It’s basically an attempt to put up a sort of fog of complicated technical terms around industry’s desire to reverse pretty basic financial reforms,’ said Marcus Stanley, policy director for public advocacy group Americans for Financial Reform. There’s no academic consensus on any single best way to measure [liquidity] … so you can raise it as this boogeyman in a way that is not really particularly connected to the substantive issues.'”

AFR in the News: Did the Volcker rule really harm the bond market? (MarketWatch)
August 21, 2015 – 12:04 pm

“Bonds seem to trade in smaller transaction sizes than they once did… That is perceived as a sign of illiquidity… A better indication, according to a presentation by Marcus Stanley, policy director of Americans for Financial Reform, would be total trading in the corporate market, which in fact has slightly increased since the financial crisis.”

AFR Statement: No More Dodd-Frank Exemptions for Cross-Border Derivatives Trades
August 20, 2015 – 11:58 am

“AFR once again calls on regulators to reconsider and end their sweeping regulatory exemptions for international derivatives operations of U.S. banks and to provide greater transparency to the public concerning the size and potential impact of such exemptions.”

AFR Testimony: Expansion of ERISA Fiduciary Duty Protection is “Long Overdue”
August 12, 2015 – 1:33 pm

“Over the forty years since the existing DOL rule was written, retirement markets have transformed and workers have become overwhelmingly reliant on self-directed savings. Due to the loopholes in the current rule, brokers providing advice on such self-directed savings can easily evade the fiduciary protections that Congress intended to provide to workers saving for their retirement through employment-based plans.”

AFR Statement: After Too Long, the SEC Comes Through on Pay-Ratio Rule
August 5, 2015 – 12:23 pm

“Runaway pay, repeated studies have shown, inhibits teamwork, reduces employee morale and productivity, and encourages executives to make dangerous short-term bets. The SEC heard from hundreds of thousands of people about this rulemaking; the messages and comments were overwhelmingly positive, and rightly so.”

AFR in the News: “Too Big to Fail” Is Still a Problem – Here’s How D.C. Wants to End It (National Journal)
August 5, 2015 – 10:33 am

“‘Fixing much of this could have been done 10 years ago by higher capital requirements, which we failed to do, but we need to move more in that direction,” [Sherrod] Brown, now the ranking Democrat on the Senate Banking Committee, said at a press conference this month with Americans for Financial Reform.'”

Press Release: More than 13,500 People Tell the CFPB: Happy Birthday and Keep up the Good Fight
August 4, 2015 – 1:58 pm

CFPB Director Richard Cordray accepted delivery yesterday of a set of birthday-card-style petitions in which more than 13,500 Americans expressed their support and gratitude for the Bureau’s efforts “to safeguard American consumers, families and communities against the deceptive and abusive practices of big banks, cred card companies, and unscrupulous lenders.” The signatures were gathered by Americans for Financial Reform, National People’s Action, and the Center for Popular Democracy.

AFR Briefing: Bond Market Liquidity, Regulation, and the Public Interest
August 3, 2015 – 5:34 pm

Recent months have seen increasing claims by some industry participants and their allies that new regulations are negatively impacting bond market liquidity in ways that may harm the economy. What is the truth of these claims? Is there in fact a serious problem with bond market liquidity? Are recent market events such as the October 15th Treasury market disruption related to new regulation, or to other market changes such as increases in electronic trading? How should regulators respond?