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AFR in the News

AFR in the News: Trump Asks SEC to Study Quarterly Earnings Requirements for Public Firms (NY Times)
August 20, 2018 – 4:20 pm

“’Quarterly disclosures are very important. A lot can happen in six months, and it’s just not appropriate to reduce disclosures,’ said Marcus Stanley, the policy director for Americans for Financial Reform, a coalition of foundations, unions and public interest groups that pushes for stronger financial regulation. ‘It’s just going to advantage insiders further.’”

AFR in the News: Progressive Groups Criticize CFPB Fintech Proposal (Politico)
August 10, 2018 – 12:03 pm

“A coalition of 50 public interest groups today sharply criticized the Consumer Financial Protection Bureau’s proposal to gut important consumer-protection rules, especially for fintech companies, arguing the agency does not have the authority to create potentially unlimited exemptions from the very regulations that the CFPB is obligated to enforce.”

AFR in the News: Congress to roll back post-crisis rules as banks post record profits (Washington Post)
June 5, 2018 – 2:48 pm

“‘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

“‘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

“’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.”

AFR in the News: Progressives Ask Schumer to Pick Like-Minded Financial Watchdogs (Bloomberg News)
May 29, 2018 – 1:36 pm

Unions, civil rights organizations and so-called netroots political activists all signed onto the letter, aligning with groups like the Consumer Federation of America and Americans for Financial Reform that typically monitor the agencies.

AFR in the news: Student debt hurts the whole economy. So why is Trump making the problem worse? (NBC THINK)
May 10, 2018 – 4:35 pm

“Mulvaney dismantling the Office for Students is a move that deliberately makes life harder for America’s 44 million student loan borrowers. At a time when student borrowers need allies in government more than ever, Mick Mulvaney and the Trump Administration have left them out in the cold.”

AFR in the News: House Votes to Dismantle Bias Rule in Auto Lending (NY Times)
May 9, 2018 – 10:24 am

“‘“Companies will put millions of people into more expensive car loans simply because of the color of their skin,, said Rion Dennis, an advocate of financial overhaul at Americans for Financial Reform. ‘By using the Congressional Review Act to wipe out straightforward regulatory guidance, the congressional majority has also opened the door to challenging longstanding efforts to protect workers, consumers, civil rights, the environment and the economy.’”