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Articles tagged with: Volcker Rule

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 …

AFR Statement: Omnibus Contains Yet More Gifts to Wall Street
March 22, 2018 – 2:27 pm

“The Omnibus budget package contains several policy riders designed to benefit Wall Street investment funds and big banks at the expense of the public. One provision in the omnibus allows Business Development Companies (BDCs), a type of private equity fund sold directly to retail customers, to double their permitted fund leverage from the current 1-1 level (one dollar of borrowed money for each dollar of investor equity) to 2-1. BDCs are already the beneficiary of regulatory exemptions since conventional closed-end mutual funds can only leverage 1-2, or borrow one dollar per two dollars of investor equity…”

Message to Washington: S 2155 Is a Giveaway to Wall Street!
March 16, 2018 – 3:09 pm
Message to Washington: S 2155 Is a Giveaway to Wall Street!

A bipartisan majority of senators has chosen to commemorate the 10th anniversary of the worst financial crisis since the Great Depression by handing big banks and their lobbyists a package of deregulatory gifts, increasing the risks to financial stability and the likelihood of consumer abuse, including racial discrimination in mortgage lending. This legislation doesn’t serve families or communities, nor is it policy that most Americans support. It puts the interests of financial institutions ahead of the rest of us.

AFR in the News: Congress rides to the rescue of thriving bankers (Politico)
March 15, 2018 – 10:53 am

“I don’t see the real-world problem [the bill] is trying to solve, except the problem of bankers’ not making enough money,” said Marcus Stanley, policy director at Americans for Financial Reform… [Stanley] said competition alone shouldn’t be the goal. “If we didn’t require airlines to do anything before opening up a new air route, there might be more airlines, but there might be more plane crashes too.”

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.'”