Banks are finding it harder to fight proposed reforms of the $300 trillion U.S. privately traded derivatives market because of outrage over JPMorgan’s credit derivatives losses. By Karen Brettell NEW YORK | Mon Jul 16, 2012 Lobbying efforts continue, nonetheless, as many important rules have not been hammered
In New Rules to Shine Light on Derivatives, Regulators Also Allow Exemptions New York Times By Ben Protess July 10, 2012 The rules, stemming from the Dodd-Frank financial regulatory law, will give regulators more control over the $700 trillion derivatives industry, an opaque business that was
JPMorgan Builds Vast Web of Staff, Financial Ties to Lawmakers American Banker By Kevin Wack JUN 12, 2012 Lisa Donner, executive director of Americans for Financial Reform, which is often on the opposite side of the policy debate from JPMorgan, nonetheless expressed an upbeat view about
By Carter Dougherty Bloomberg News The Federal Deposit Insurance Corp. plans to investigate claims that U.S. banks are offering products resembling so-called payday loans faulted by regulators for taking advantage of lower-income borrowers. “The FDIC is deeply concerned about these continued reports,” Martin Gruenberg, the
Huffington Post By Robert Weissman At the time the bill was under consideration, critics (including Public Citizen) suggested the JOBS Act was basically pro-fraud legislation. “The legislation is premised on the dangerous and discredited notion that the way to create jobs is to weaken regulatory
Think Progress By Josh Israel and Adam Peck But in Congress, the Tea Party has toed the line for big banks. Eleven of the 15 have become co-sponsors of H.R. 3461, a top priority for the ABA. According to Americans for Financial Reform, the legislation would “tilt the playing field further
American Banker By Joe Adler MAY 18, 2012 In a conference call with reporters Friday, Americans for Financial Reform argued — counter to claims by the Wall Street giant — that the trades by the firm’s London investment office resulting in at least $2 billion
By Zach Carter (HuffingtonPost) “Hedging is not about profits, it’s about reducing risk,” said Marcus Stanley, policy director at Americans for Financial Reform, a coalition of consumer, small business and labor groups that backs financial reform. “If you look at [JPMorgan’s] Chief Investment Office, they
Dr. Marcus Stanley, Policy Director of AFR, discusses JPMorgan Chase’s $2 billion trading mistake on Fox 5 News.
JPMorgan prepares for D.C.’s worst By: Anna Palmer (POLITICO) May 14, 2012 The scandal is also expected to reinvigorate supporters of stricter regulations for the financial services industry, particularly among those who feel the industry has been overly dismissive of concerns. Marcus Stanley of Americans for