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AFR Event Upcoming July 24th: Regulating Wall Street — Ten Years Later, Where Do We Stand?
July 2, 2018 – 2:21 pm | Comments Off on AFR Event Upcoming July 24th: Regulating Wall Street — Ten Years Later, Where Do We Stand?

Click on the announcement below to see the details of AFR’s July 24th event marking the tenth anniversary of the financial crisis, and to RSVP
Regulating Wall Street Ten Years Later July 24th Save The Date

AFR Statement: Senate Banking Committee Takes Up Dangerous Securities Bills
June 26, 2018 – 11:32 am | Comments Off on AFR Statement: Senate Banking Committee Takes Up Dangerous Securities Bills

“The Senate Committee on Banking, Housing, and Urban Affairs meets today to conduct hearings on a set of bills ostensibly designed to increase access to capital. Several of these bills are part of a dangerous agenda to rollback securities markets regulations. The deregulation of private capital markets contemplated in these bills would disproportionately affect small, retail investors vis-à-vis large investors and would undermine the effective regulations and investor protections that are fundamental principles of stable and enlarging U.S. public capital markets. “

AFR in the News: Business Groups Back Kavanaugh Nomination; Consumer Advocates See Danger (AP)
June 25, 2018 – 9:03 pm | Comments Off on AFR in the News: Business Groups Back Kavanaugh Nomination; Consumer Advocates See Danger (AP)

“A seat on the Supreme Court would let Kavanaugh and his allies expand attacks on the ability of government to regulate and enforce the rules on behalf of ordinary people,” said Linda Jun, senior policy counsel at Americans for Financial Reform.

AFR Statement: Federal Reserve Stress Tests Stand or Fall on Regulator Assumptions
June 21, 2018 – 4:07 pm | Comments Off on AFR Statement: Federal Reserve Stress Tests Stand or Fall on Regulator Assumptions

Stress tests are forecasts based on models. They stand or fall on the approach of regulators, whose assumptions can seriously underestimate bank losses. Before the 2008 financial crisis regulatory models also showed Wall Street was safe, but that turned out to be fantasy.

Wall Street Money in Washington: Where It Comes From, Who It Goes To
June 6, 2018 – 9:02 am | Comments Off on Wall Street Money in Washington: Where It Comes From, Who It Goes To
Wall Street Money in Washington: Where It Comes From, Who It Goes To
AFR in the News: Congress to roll back post-crisis rules as banks post record profits (Washington Post)
June 5, 2018 – 2:48 pm | Comments Off on AFR in the News: Congress to roll back post-crisis rules as banks post record profits (Washington Post)

“‘When lawmakers vote for banking deregulation even though banks are raking in record profits, it exposes what is really at work,’ said Lisa Donner, executive director of Americans for Financial Reform. ‘The bank lobby has flooded the political system with money, and is getting a return on its
investment. The result is legislation that makes the financial system less safe and less fair, and puts consumers at greater risk of abuse.’”

AFR in the News: Banks would be freer to trade for profit under Fed proposal (Virginian Pilot)
June 4, 2018 – 10:29 am | Comments Off on AFR in the News: Banks would be freer to trade for profit under Fed proposal (Virginian Pilot)

“‘The proposal ‘is an attempt to unravel fundamental elements of the response to the 2008 financial crisis, when banks financed their gambling with taxpayer-insured deposits,’ Marcus Stanley, policy director at Americans for Financial Reform, said in a statement. ‘If implemented, these proposals could turn the Volcker Rule into a dead letter.'”

AFR in the News: Fed votes to scale back hated ‘Volcker Rule’ on Wall Street (NY Post)
June 4, 2018 – 10:20 am | Comments Off on AFR in the News: Fed votes to scale back hated ‘Volcker Rule’ on Wall Street (NY Post)

“’What is critical is that simplification not undermine the core principle at stake — that taxpayer-supported banking groups, of any size, not participate in proprietary trading at odds with the basic public and customers’ interests,’ Paul Volcker said in a statement…

‘This proposal is no minor set of technical tweaks to the Volcker Rule, but an attempt to unravel fundamental elements of the response to the 2008 financial crisis, when banks financed their gambling with taxpayer-insured deposits,’ said Marcus Stanley, policy director at Americans for Financial Reform.”