The Bond Buyer devoted an article to AFR and affiliated groups letter of opposition to HR 2827, which would roll back Dodd-Frank protections for taxpayers in municipal finance. An excerpt: Seven groups, led by Americans for Financial Reform, urged lawmakers to vote “no” to H.R.
More than 100 members of Congress have communicated with the Federal Reserve and other regulators about the yet-to-be-finalized Volcker Rule, which is supposed to restrain banks from making risky trades or investing in hedge funds. “The Fed, like all regulators, provides feedback to lawmakers,” Ben
Rolling Stone’s Matt Taibbi sees the potential for more Jefferson County-style disasters in H.R. 2827, a “compromise” that sharply reduces the ethical responsibilities of those who sell complex financial products to municipalities.
Imagine a world where banks can appeal to the highest office in the land for help if some pesky financial regulator tries to tell them what to do… In fact, there is a bill slouching its way through the Senate right now that would give the president of the United States the power to slam the brakes on new regulations that banks find insufficiently lenient…
A Senate committee may be preparing to approve a bill to impose White House cost-benefit review on a group of formerly independent regulatory agencies, including the Securities and Exchange Commission, the Commodity Futures Trading Commission, and the Consumer Financial Protection Bureau.
U.S. Banks Push Consumer Bureau to Postpone Rule on Remittances 2012-08-16 18:56:17.327 GMT By Carter Dougherty Aug. 16 (Bloomberg) — U.S. banks are lobbying the consumer finance bureau to delay rules on international money transfers, saying they can’t meet a Feb. 7 deadline for disclosing
In a little noted speech to his constituents in May, Paul Ryan decried the “crony capitalism” that he said, prompted the big bank bail-outs of 2008 (though he himself voted for the TARP, and he himself gets massive campaign contributions from big financial firms).
AFR’s Policy Director, Dr. Marcus Stanley, appeared on CNBC to discuss the benefits of regulation for consumers on CNBC.
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