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Financial Reform News

AFR Statement: Oppose Gorsuch Nomination to Supreme Court
March 29, 2017 – 8:53 am

Judge Gorsuch’s stated views suggest his appointment would also help financial companies’ efforts to eliminate the rules necessary to protect the economy from another financial calamity induced by Wall Street’s recklessness

AFR Statement: Acosta Must Commit To Fiduciary Rule On Time, In Full
March 22, 2017 – 9:28 am

The public deserves to know whether Alexander Acosta stands for seniors, and everyone saving for retirement, or whether he sides with the worst elements of Wall Street

AFR IN THE NEWS: Donald Trump Literally Nominated The Goldman Sachs Bailout Lawyer To Run The SEC (Huffington Post)
March 21, 2017 – 11:59 am

“‘Jay Clayton has spent his entire career serving Wall Street, representing Goldman Sachs and other big banks,’ says Americans for Financial Reform Executive Director Lisa Donner. ‘Americans need an SEC Chair who will stand up to those interests, not represent them.'”

AFR Statement: Don’t Delay or Gut The Fiduciary Rule
March 17, 2017 – 7:52 am

Americans for Financial Reform, a broad coalition including civil rights groups, consumer advocates, community organizations, and labor unions, today called on the Trump administration to abandon its proposal to delay a planned rule that protects ordinary investors from unscrupulous financial advisers.

Letter to Congress: AFR Criticizes Securities Bill Package As Tilted to Wall Street
March 9, 2017 – 1:52 pm

AFR sent letters to the Senate Banking Committee and the House Financial Services Committee regarding a package of securities bills up for a vote. AFR supports H.R. 1366/S. 484, “The U.S. Territories Investor Protection Act”, …

AFR IN THE NEWS: Banks Spent Record Amounts on Lobbying in Recent Election (Reuters)
March 8, 2017 – 2:03 pm

“Banks and other financial companies expecting big benefits from Republican-led deregulation spent record amounts on lobbying in the last election cycle… The financial sector spent $2 billion on political activity from the beginning of 2015 to the end of 2016, including $1.2 billion in campaign contributions – more than twice the amount given by any other business sector, according to the study from Americans for Financial Reform.”

Letter to Congress: AFR Opposes HR 1009, Bill To Undermine Financial Regulators
March 1, 2017 – 1:57 pm

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March 1, 2017
Dear Representative:
On behalf of Americans for Financial Reform, we are writing to express our opposition to HR 1009, the “OIRA Insight, Reform, and Accountability Act”. This legislation would have a crippling …

AFR IN THE NEWS: The Problem with Trump’s Plan to Boost Wall Street: Banks are More Profitable Than Ever (Washington Post)
March 1, 2017 – 11:35 am

“’Hard data on bank earnings and lending should lay to rest any notion that financial regulations are holding back the American economy, or getting in the way of American banks making money,’ Marcus Stanley, policy director at Americans for Financial Reform, said in a statement. ‘These claims are just an excuse to dismantle hard-won protections for consumers and financial stability.’
Since the financial crisis, the banking industry has largely thrived, according to the FDIC data. “