Article Archive for November 2011
AFR sent a letter to members of the House Financial Services Committee asking that they oppose legislation in today’s Capital Markets Subcommittee hearing that would provide regulatory loopholes to big banks.
Read our fact sheet, “The Fight for a Strong Consumer Financial Protection Bureau and Director” here
Read our talking points on Richard Cordray’s Nomination to Lead the CFPB here
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The Fight for a Strong Consumer Financial Protection …
Click here to view this week’s highlights and lowlights in Wall Street Reform – November 5, 2011 – November 10, 2011.
Senators cite MF Global as Volcker rule rationale – Ronald D. Orol (MarketWatch)
“Two senators on Wednesday urged approval of regulations to adopt key provisions in the Volcker rule, arguing that the recent failure of MF Global illustrates why it should be approved. …during a gathering organized by Americans for Financial Reform, a progressive-leaning group.” Click here for more.
Volcker Rule Conflict Provisions Not ‘Tough Enough,’ Levin Says – Phil Mattingly (Bloomberg)
“Volcker rule language aimed at limiting conflicts of interest between U.S. banks and their clients is ‘not nearly tough enough,’ Senator Carl Levin said. Levin, a Michigan Democrat who helped draft the Dodd-Frank Act ban on proprietary trading for deposit-taking banks, said today…at an Americans for Financial Reform conference in Washington.”
How lobbyists make government regulations more burdensome – Suzy Khimm (Washington Post)
“One of the chief complaints you hear about Obama’s Wall Street reform law is that it imposes hugely complex, burdensome regulations on businesses. But why did that happen? It’s partly because industry lobbyists have pushed so hard to carve out exemptions in the law. That’s what happened with the Volcker Rule…The rule originally started out a 10-page provision that has ballooned to nearly 300 pages with scores of exemptions in place, as some supporters of the reform pointed out at an event on Wednesday. …at the gathering, sponsored by Americans for Financial Reform.”