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Articles tagged with: Federal Reserve

Letter to Regulators: Letter to Federal Reserve on Bank Ownership and Control
July 16, 2019 – 10:03 am

AFR wrote a letter to the Federal Reserve Board on a proposal that would liberalize the criteria the Board uses to determine control of a bank. The definition of “control” is critical as it determines whether entities with ownership and influence over banks will be designated as bank holding companies and subject to the appropriate regulation.

Event: Former Fed Governor Tarullo Decries “Low-Intensity Deregulation”
May 21, 2019 – 11:21 am

“[A] good bit of that progress … could be endangered by a kind of low-intensity deregulation, consisting of an accumulation of non-headline-grabbing changes and an opaque relaxation of supervisory rigor. There are things to be concerned about in many of the individual proposals on such matters as the leverage ratio, resolution planning, and foreign banking organizations. It’s the cumulative effect, though, that is truly worrisome.”

News Release: Fed Report Proves Need To Strengthen Financial Safeguards
November 28, 2018 – 3:43 pm

Today’s financial stability report from the Federal Reserve clearly documents that we are at or near the peak of an economic cycle, with inflated asset prices and strong lending growth leading to signs of excessive leverage in the corporate sector. The peak of the cycle is the time to strengthen financial safeguards, not weaken them.

News Release: Fed Proposal Chips Away At Post-Crisis Reforms
October 31, 2018 – 12:27 pm

Today’s proposals to restructure capital and liquidity requirements for large banks represent the latest chapter in the gradual chipping away of post-crisis financial reforms. The proposals go well beyond anything required by Congress, and significantly weaken requirements for large banks to hold cash and easily salable liquid assets to satisfy payment requirements in times of economic stress.

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.

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.'”

Letters to Congress: AFR urges opposition to HR 4790 in order to protect the Volcker Rule
April 13, 2018 – 11:26 am

View or download a PDF version of the letter here.
April 12, 2018
Dear Representative:
On behalf of Americans for Financial Reform, we are writing to urge you to vote against HR 4790, which is being considered on …