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Articles tagged with: Federal Reserve

AFR Statement: Oppose Quarles and Otting Nominations as Bank Regulators
September 7, 2017 – 11:37 am

The Senate should reject the Trump nominees for vice-chair of the Federal Reserve Board, Randal Quarles, and the Comptroller of the Currency, Joseph Otting.

Letter To Congress: Oppose HR 3312 — A Gift To Some Of The Largest Banks In The Country
September 6, 2017 – 12:02 pm

“On behalf of Americans for Financial Reform, we are writing to express our opposition to H.R.
3312, the “Systemic Risk Designation Improvement Act of 2017.” This legislation is a gift to
some of the largest banks in …

Letter to Regulators: AFR Opposes SoFi’s Deposit Insurance Application
July 19, 2017 – 12:15 pm

“…The essence of SoFi’s application is a request to seek the benefits of federal deposit insurance without subjecting SoFi itself or its private equity owners to the well-founded requirements for bank holding companies. The FDIC should not approve the application to facilitate this regulatory arbitrage. …If its application is granted, SoFi will be the first new ILC to secure deposit insurance in over a decade. That will send a clear signal to the marketplace that the FDIC intends once again to approve ILC deposit insurance applications. FDIC should not grant SoFi’s application and allow the ILC loophole to be revived.”

AFR in the News: How Trump’s Pick To Police Wall Street Endangers The Economy (Huffington Post)
July 13, 2017 – 3:14 pm

“‘“Quarles is an insider. He has been an insider for decades to both Wall Street and the inside-Washington sort of swamp ― the Wall Street-Washington nexus,’ said Marcus Stanley, policy director of Americans for Financial Reform.”

AFR Report: 2017 Big Bank Stress Tests Less Stressful Than Ever
July 5, 2017 – 9:51 am

The slide presentation linked below documents AFR’s findings on the 2017 CCAR stress tests.
AFR Assessing the 2017 Stress Tests
A Medium blog post is also available here:
https://medium.com/@RealBankReform/stress-tests-less-stressful-than-ever-fbe68b8e161a

AFR Statement: Oppose OCC Bid to Control Consumer Protection
June 23, 2017 – 3:56 pm

The OCC’s proposals would directly weaken financial regulatory protections and push aside other agencies so the OCC could take critical guardrails off of Wall Street on its own

AFR Policy Brief: The Volcker Rule And Market Making in Times Of Stress
February 24, 2017 – 5:18 pm

” ‘The Volcker Rule And Market Making In Times of Stress’ paper does not represent the official view of the Federal Reserve, and is not a Federal Reserve Report. …It is simply false to present this paper as demonstrating that the Volcker Rule has created market costs that exceed its risk reduction benefits.”

AFR in the News: Coalition of Unions, Consumer Groups Press Regulators on Bank “Living Wills” (Wall St. Journal)
March 22, 2016 – 5:57 pm

“Tuesday’s letter to the Fed and FDIC from Americans for Financial Reform… is the latest evidence that the agencies could face some backlash if their verdict is favorable to the industry. The coalition includes large unions and public interest groups with powerful pull in Washington… The coalition asks that regulators, if they decline to find banks’ plans not credible, provide the public with a detailed explanation of improvements banks have made in the living wills since the firms failed to pass regulatory muster in 2014.”