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Articles tagged with: Systemic Risk

Letters to Congress: AFR Urges Opposition to H.R. 1116 — A Dangerous Bill Weakening Effective Protections for Consumers and the U.S. Economy
March 13, 2018 – 12:26 pm

AFR sent a letter to members of the House of Representatives urging them to vote in opposition to H.R. 1116, the “Taking Account of Institutions with Low Operation Risk (TAILOR) Act of 2017.”

Letters to Congress: AFR Urges Opposition to H.R. 4545 — A Bill Setting Unprecedented Limits on Bank Examiners
March 13, 2018 – 12:23 pm

AFR sent a letter to members of the House of Representatives urging them to vote in opposition to H.R. 4545, the so-called “Financial Institutions Examination Fairness and Reform Act.”

Letters to Congress: Protect the U.S. Economy — Vote For Sen. Brown Amendment No. 2080 on Foreign Banks
March 8, 2018 – 10:51 am

AFR supports Sen. Brown’s amendment that would guarantee that enhanced prudential safeguards remain in place at the U.S. operations of foreign mega-banks.

AFR in the News: Bank earnings are soaring, but congress wants to gut post-crisis safeguards (Intercept)
March 5, 2018 – 1:41 pm

“[The consumer provisions in the bill] are ‘tokens,’ said Americans for Financial Reform, a Washington, D.C.-based advocacy group pushing for greater financial reform, tacked on to provide cover to a bill that is mainly about financial sector ‘giveaways.'”

AFR in the News: Is it time to roll back US bank regulation? (Financial Times)
March 1, 2018 – 10:50 am

“The financial services industry pumped a record $2bn of campaign contributions into the political system in the two years leading up to the 2016 elections. And the flood of cash has continued, with a particular focus on senators whose votes will be decisive. The influence that money buys is creating a massive shift away from the moderate reforms made in and around Dodd-Frank, which were making the system safer and helping consumers and investors keep billions of dollars each year that an already profitable industry would otherwise siphon off.”

Letters to Congress: AFR Urges Opposition to HR 4296—A Bill Tying Regulators Hands in Setting Operational Risk Capital
February 27, 2018 – 11:55 am

AFR sent a letter urging House members to vote “No” on H.R. 4296—a bill that would tie regulators hands in setting operational risk capital.

AFR in the News: Rule letting U.S. dismantle giant banks in crisis should stay, Treasury Department advises (LA Times)
February 22, 2018 – 3:32 pm

“Marcus Stanley, policy director for Americans for Financial Reform, said he was glad to see the authority embraced in the report, but alarmed by specifics of the bankruptcy recommendations that he said ‘would create special privileges for big banks, rely on unrealistic assumptions, and in their current form would likely increase risks to the financial system.'”

AFR in the News: Democrats need to stand with working Americans vs. big banks (Washington Post)
January 26, 2018 – 10:26 am

“Under current law, banks with more than $50 billion in assets are considered ‘systemically important financial institutions’ and therefore are subject to extra scrutiny. The Senate bill would lift that threshold to $250 billion, relaxing oversight of 25 of the 38 largest banks in the country. According to Americans for Financial Reform, those banks are collectively responsible for $3.5 trillion in assets and received nearly $50 billion in bailout money during the financial crisis.”