“The Wall Street Journal has reported that the big banks are pressing Congress for a statutory delay in the implementation of the Volcker Rule. They claim that the fact that the law will become effective this July, possibly before all the rules are finalized, will lead to disruptions in our financial markets. But that’s simply not true. …his lobbying effort should be see for what it is — just another effort to undermine and negate the Volcker Rule so that Wall Street can continue proprietary speculation while taking advantage of the safety net taxpayers provide to the banking system.”

The so-called “JOBS Act,” which guts a host of investor protections, including those put in place in the wake of the Enron scandal and the financial crisis, was rushed through the House without any attention to its potentially devastating impact on investors, market transparency, and the integrity of our capital markets. It is up for votes in the Senate today, and Senators will have a last chance to stop it from racing through as is, and to demand improvements to protect investors and the public.

The Leadership Conference on Civil and Human Rights sent a letter to the Senate urging members’ support of the Reed-Landrieu-Levin amendment.

30 public interest groups, including AFR, sent a letter to the Senate supporting pro-investor changes to the JOBS Act, and urging members to oppose the underlying bill if these changes are unmade.

Main Street Alliance sent a letter to the Senate today urging them to support amendments to the JOBS Act that would protect small businesses.