This proposal is no minor set of technical tweaks to the Volcker Rule, but an attempt to unravel fundamental elements of the response to the 2008 financial crisis, when banks financed their gambling with taxpayer-insured deposits. If implemented, these proposals could turn the Volcker Rule into a dead letter, a regulation that would not meaningfully restrict trading activities.
A new nationwide survey of likely 2018 voters in key battleground congressional districts reveals overwhelming, broad-based, and intense support for curbing big banks’ influence in Washington, and holding financial companies accountable for discrimination.
The need for strong public interest nominees is even greater today. This Administration has been
filling key regulatory positions with people pursuing Wall Street’s agenda at the public’s expense,
and the revolving door is spinning faster than ever. There is an enormous amount at stake at both
the SEC and FDIC as the financial industry and their friends in the Trump administration work to
undo the progress made in Dodd-Frank and to undermine key investor protection standards.
This legislation ignores the lessons of the financial crisis that cost so many Americans their jobs and homes, and pays no heed to the overwhelming majority of voters who correctly understand the need for tougher, not weaker, oversight of the financial services industry.
AFR commented on the roll back of transparency disclosures to investors in the SEC proposed rule “Investment Company Liquidity Disclosures.”
AFR sent a letter to members of the House Committee on Financial Services urging them to oppose two bills in today’s markup.
A new nationwide survey of likely 2018 voters in key battleground congressional districts reveals overwhelming, broad-based, and intense support for curbing big banks’ influence in Washington, including solid backing for a Financial Transaction Tax, especially if it’s referred to as a “sales tax”.
AFR sent a letter to members of the House of Representatives urging them to vote in opposition to the Bank Lobbyist Act.
A new poll reveals overwhelming public support for government action to stop lenders from discriminating against borrowers of color. Lawmakers who voted to roll back the Consumer Financial Protection Bureau’s effort to guard against discrimination in auto lending were steering against the will of their own voters.
Across parties and regions, American voters believe the government should fight discrimination by financial firms against African-Americans and Latinos in lending.