“These findings of widespread and damaging errors… underscore once again how important the [CFPB] is, and how important it is for the Senate to confirm Richard Cordray as Director.”
A new report from the National Consumer Law Center analyzes the record of the government’s main mortgage modification initiative, and where we go from here.
Mandatory arbitration and its impact on the world of consumer finance was the topic of a Capitol Hill briefing sponsored by AFR, Public Citizen & the National Association of Consumer Advocates.
In a telephone press conference co-hosted by Americans for Financial Reform, investor advocates and the president of a state securities regulators’ group sharply criticized the SEC’s proposed rule to permit the mass marketing of private stock offerings. The four speakers were united in asking the
“In a sane world, high-frequency trading would be a minor specialty at best,” says a 9/27 editorial. “But in the bizarro world that Wall Street has become, such activity now makes up the majority of all trades…” With the SEC preparing to hold a hearing
Four years after the Lehman collapse, a new AFR Briefing Paper surveys the damage .
The news has been full of stories of JP Morgan’s unexpected losses on risky derivatives bets. Losses started at $2 billion just a week ago. But now they are clearly in excess of $3 billion, potentially $5 billion, and possibly even more. These losses remind
As most Americans struggle to pay their share, we can’t help but notice that Wall Street is not. Many of the economic problems we face today, from deficits to unemployment, were in large part created by reckless and excessive speculation on Wall Street. It is therefore
“We are deeply disappointed by the Senate passage of the so called “JOBS Act.” With the country still suffering from hard times and high unemployment in the wake of the financial crisis, it is almost unbelievable that the Senate would rush passage of measures that will undermine transparency and accountability in the capital markets, and expose our families to a new round of fraud and abuse. But that is what they have done.”
The so-called “JOBS Act,” which guts a host of investor protections, including those put in place in the wake of the Enron scandal and the financial crisis, was rushed through the House without any attention to its potentially devastating impact on investors, market transparency, and the integrity of our capital markets. It is up for votes in the Senate today, and Senators will have a last chance to stop it from racing through as is, and to demand improvements to protect investors and the public.