Kerri Panchuk (Housing Wire)
October 6, 2011
‘American families want and need someone to level the playing field and prevent tricks and traps in the financial services market,’ said Lisa Donner, executive director of Americans for Financial Reform. ‘We call on all Senators to stand up for families and confirm Richard Cordray as CFPB director.’
Connie Prater (Creditcards.com)
October 6, 2011
Lisa Donner, executive director of Americans for Financial Reform challenged Republican senators to ‘stand up for families’ and confirm the nomination. ‘Will you implement the law and make sure the CFPB can do its job helping people defend themselves from loan sharks big and small?’ Donner asked. ‘Or will you block consumer protection and instead protect wrongdoing by companies that caused the financial crisis?’
“American families want and need someone to level the playing field and prevent tricks and traps in the financial services market”, said Lisa Donner, Executive Director of Americans for Financial Reform. “We call on all Senators to stand up for families and confirm Richard Cordray as CFPB director.
The current economic turbulence is a direct result of insufficient regulation — so it makes no sense to curb pending rules that would address the causes of the crisis, says Lisa Donner, executive director of Americans for Financial Reform, a coalition of labor, civil rights, community, and small business groups. “The thought that what we need to get the economy going again is to cut back on regulation is astoundingly backwards,” she says, noting that recent polls suggest businesses are struggling with economic conditions, not overregulation.”
‘The banks want to get away with everything, and she is probably one of the linchpins in saying that is going to happen or isn’t going to happen,’ said Liz Ryan Murray, the chairwoman of the foreclosure task force at Americans for Financial Reform. ‘We would like to see her come forward and be more public on what she will and won’t give up.’”
Questions Arise About UBS Risk Controls Alistair MacDonald and Deborah Ball (WSJ – subscription required) September 16, 2011 “Risk-management and control specialists are again questioning the banking industry’s ability to manage risks and regulator’s efforts to police the sector after a UBS AG trader lost
Global Standards Sought on Rules Victoria McGrane (WSJ – subscription required) September 16, 2011 “Treasury Secretary Timothy Geithner in a letter Wednesday assured Congress that the Obama administration and federal regulators are working with their international counterparts to see they adopt similar rules requiring market
Delta One Desks Are Big Moneymakers Susanne Craig and Azam Ahmed (DealBook/NYT) September 15, 2011 “The $2 billion trading loss that has rocked the Swiss banking giant UBS has also cast a spotlight on a relatively unknown but increasingly profitable corner of Wall Street —
Swap Lobbyists Pushing SEC Version of Trading Rules Over CFTC Jesse Hamilton and Silla Brush (Bloomberg) September 9, 2011 “In a match made in Congress, the Securities and Exchange Commission and Commodity Futures Trading Commission are supposed to work in tandem to oversee the $601
Consumer Protection Bureau in Political Limbo Katherine Reynolds Lewis (The Fiscal Times) September 6, 2011 “Until the Senate confirms a director, the new Consumer Financial Protection Bureau cannot impose rules on some of the worst actors in the 2008 financial crisis: payday lenders and non-bank mortgage