S 2155: A Gift to Wall Street!
March 16, 2018 – 3:09 pm | Comments Off on S 2155: A Gift to Wall Street!

Bipartisan majorities in the House and the Senate chose to commemorate the 10th anniversary of the worst financial crisis since the Great Depression by handing the bank lobby a package of deregulatory gifts, increasing the risks to financial stability and the likelihood of consumer abuse, including racial discrimination in lending. This legislation, signed into law on May 24, won’t serve families or communities, nor is it policy that most people support. But Wall Street and its friends in Congress had a tougher time than they ever expected because Americans who know better refused to let the bill pass without a fight.

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Letters to Regulators: AFR commented on a proposal that would cut the minimum required leverage ratio at the largest U.S. banks.
June 26, 2018 – 11:32 am

Americans for Financial Reform sent a letter to the Federal Reserve Board of Governors and the Office of the Comptroller of the Currency to comment on a proposal that would reduce the minimum leverage ratio …

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

“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. “

Letters to Regulators: AFR commented on Federal Reserve proposed changes to capital rules to implement new stress buffer requirements.
June 26, 2018 – 11:18 am

AFR commented on a Federal Reserve proposal that would integrate the capital requirements in its different capital regimes to institute new stress buffer requirements.

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

“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

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.

Letters to Congress: AFR urges opposition to HR 5970 and HR 6130 in order to preserve disclosures for investors.
June 21, 2018 – 10:18 am

Americans for Financial Reform sent a letter to members of the House Committee on Financial Services urging them to reject two bills in today’s markup.

AFR Statement: CFPB Needs a Champion of Consumers, Not an Employee of Mick Mulvaney
June 17, 2018 – 8:27 am

The President should have nominated someone with a commitment to that mission months ago, not waited until the last minute to reveal a nomination designed to keep Mick Mulvaney in charge. This nomination is a move to keep the CFPB hobbled and under the thumb of the payday lenders and Wall Street law breakers.

Letters to Congress: AFR Opposes HR 5749 and HR 6035 in House Financial Services Committee Markup
June 14, 2018 – 3:25 pm

Americans for Financial Reform sent a letter to members of the House Committee on Financial Services urging them to reject two bills in today’s markup.