“[Banks] are turning to the 79th page of a 2013 document titled “Regulatory Capital Rules” and looking at footnote 151. That reference effectively lets banks hold less capital against shorter-term derivatives… ‘This is classic regulatory arbitrage,’ said Marcus Stanley, policy director for public-interest group Americans for Financial Reform.”
“Brian Marshall, policy counsel for Americans for Financial Reform… contends that if PHH’s concern is really that the president lacks sufficient authority over a federal agency, a multi-member structure should be even more problematic. ‘To get control of the Federal Trade Commission, a president would have to remove three commissioners — and that is virtually impossible,’ he said.”
“The [Metlife] decision is ‘really potentially damaging to the framework Dodd Frank set up to oversee nonfinancial institutions,’ said Marcus Stanley, policy director for Americans for Financial Reform. If the ruling is upheld, ‘FSOC would have a very hard time designating anybody in the future, even when they truly do pose risk to the financial system…'”
“The pace of relief for wronged Corinthian students…remains far too slow, and its scope frustratingly narrow,” said Alexis Goldstein, senior policy analyst at the progressive Americans for Financial Reform. She pointed out that only students who took out loans after July 2010 are eligible for debt cancellation, which excludes borrowers with old bank-based federal student loans.
“The pace of relief for wronged Corinthian students…remains far too slow, and its scope frustratingly narrow,” said Alexis Goldstein, senior policy analyst at the progressive Americans for Financial Reform. She pointed out that only students who took out loans after July 2010 are eligible for debt cancellation, which excludes borrowers with old bank-based federal student loans.
“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.”
“Marcus Stanley, policy director of the public advocacy group Americans for Financial Reform, said that the shift toward taking a long view with executive compensation is anecdotal at best… ‘From our perspective there hasn’t really been a fundamental change,’ Stanley said. ‘What we would want to see is something that moves closer to the old partnership model, where you stay genuinely at risk for a long period of time and where you’re just as sensitive to the downside… as the short-term upside incentives.'”
Marcus Stanley, policy director of Americans for Financial Reform, analyzes the role of Wall Street reform in the 2016 presidential contest. He also discusses President Obama’s remarks about the regulatory reforms adopted since the 2008 financial crisis.
“‘The credit-rating agencies got away so easy, given what they did,’ said Marcus Stanley, policy director at Americans for Financial Reform, a nonpartisan coalition in favor of stronger Wall Street regulation. ‘The happy days are here again. There’s not really been an interruption of the profit flow.'”
“‘This is one more reminder that it is crucial that people who lead these agencies are people strongly committed to reform and who will be as aggressive as they need to be despite pressure from the other side to slow down or weaken rules,’ said [AFR executive director Lisa] Donner.”