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AFR Press Statement: President Obama’s Recess Appointment of Richard Cordray
January 4, 2012 – 11:02 am | Comments Off

Consumers won today when President Obama defied Wall Street interests to make a recess appointment of Richard Cordray to head the Consumer Financial Protection Bureau. President Obama stood with consumers and families in making this crucial decision.

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AFR Signs on to Letter: Fully Fund the CFTC
November 9, 2011 – 10:58 am

AFR signed onto a letter with other business, consumer, and labor groups supporting full funding for the CFTC.

This Week in Wall Street Reform
November 4, 2011 – 5:49 pm

Click here to view this week’s highlights and lowlights in Wall Street Reform – October 29, 2011 – November 4, 2011.

AFR in the News: MF Global provides first test for Dodd-Frank
November 4, 2011 – 5:47 pm

MF Global provides first test for Dodd-Frank – Ira Teinowitz (The Deal)

“Marcus Stanley, policy director of Americans for Financial Reform, a coalition of consumer and labor groups, called the bankruptcy a warning to regulators that the Volcker Rule should be implemented strictly. ‘MF Global’s failure — like the recent proprietary losses by Goldman Sachs — underlines the risks of speculative proprietary bets,” he said. ‘A tough Volcker Rule will restrict this kind of speculation to institutions that are ‘small enough to fail’ and prevent the giant investment banks central to the economy from taking these kinds of risks.’”

AFR in the News: The Tax Plan That Occupy Wall Street Loves
November 4, 2011 – 5:46 pm

The Tax Plan That Occupy Wall Street Loves – Yuval Rosenberg (The Fiscal Times)

“In a letter to Sen. Patty Murray (D-Wash.) and Rep. Jeb Hensarling (R-Texas), the co-chairs of the congressional ‘super committee’ tasked with finding $1.2 trillion in deficit reduction measures by November 23, a group called Americans for Financial Reform, which is a coalition of more than 250 economic, union, and activist groups, explained why it’s backing the tax: ‘The deficit problem that the Select Committee must address was to a significant degree created by the world financial crisis, a crisis caused by Wall Street speculation.’”

AFR in the News: Volcker Rule Costs Banks $1 Billion, U.S. Government Says
November 4, 2011 – 5:43 pm

Volcker Rule Costs Banks $1 Billion, U.S. Government Says – Silla Brush (Bloomberg)

“‘Only $50 million of these costs are these kinds of costs of government regulation,’ said Marcus Stanley, policy director for Americans for Financial Reform, a coalition of 250 groups including the AFL-CIO labor group and AARP. The cost ‘is very small compared to potentially making trillions of dollars in assets safer,’ he said in a telephone interview.’”

AFR in the News: Lawmakers to Propose Transaction Tax for Financial Firms Modeled on Europe
November 4, 2011 – 5:42 pm

Lawmakers to Propose Transaction Tax for Financial Firms Modeled on Europe – Phil Mattingly (Bloomberg)

“The AFL-CIO and National Nurses United, a professional association and union for nurses, have scheduled a rally in front of the Treasury Department on Nov. 3 in support of the fee. Americans for Financial Reform…is circulating petitions in support of the measure.”