AFR Statement: Acosta Must Commit To Fiduciary Rule On Time, In Full
The public deserves to know whether Alexander Acosta stands for seniors, and everyone saving for retirement, or whether he sides with the worst elements of Wall Street
Category Archives: Financial Reform News
AFR IN THE NEWS: Donald Trump Literally Nominated The Goldman Sachs Bailout Lawyer To Run The SEC (Huffington Post)
“‘Jay Clayton has spent his entire career serving Wall Street, representing Goldman Sachs and other big banks,’ says Americans for Financial Reform Executive Director Lisa Donner. ‘Americans need an SEC Chair who will stand up to those interests, not represent them.'”
AFR Statement: Don’t Delay or Gut The Fiduciary Rule
Americans for Financial Reform, a broad coalition including civil rights groups, consumer advocates, community organizations, and labor unions, today called on the Trump administration to abandon its proposal to delay a planned rule that protects ordinary investors from unscrupulous financial advisers.
Letter to Congress: AFR Criticizes Securities Bill Package As Tilted to Wall Street
AFR sent letters to the Senate Banking Committee and the House Financial Services Committee regarding a package of securities bills up for a vote. AFR supports H.R. 1366/S. 484, “The U.S. Territories Investor Protection Act”, and opposes H.R. 910 / S. 327 “The Fair Access
AFR IN THE NEWS: Banks Spent Record Amounts on Lobbying in Recent Election (Reuters)
“Banks and other financial companies expecting big benefits from Republican-led deregulation spent record amounts on lobbying in the last election cycle… The financial sector spent $2 billion on political activity from the beginning of 2015 to the end of 2016, including $1.2 billion in campaign contributions – more than twice the amount given by any other business sector, according to the study from Americans for Financial Reform.”
Letter to Congress: AFR Opposes HR 1009, Bill To Undermine Financial Regulators
View or Download PDF March 1, 2017 Dear Representative: On behalf of Americans for Financial Reform, we are writing to express our opposition to HR 1009, the “OIRA Insight, Reform, and Accountability Act”. This legislation would have a crippling effect on the regulation of our financial
AFR IN THE NEWS: The Problem with Trump’s Plan to Boost Wall Street: Banks are More Profitable Than Ever (Washington Post)
“’Hard data on bank earnings and lending should lay to rest any notion that financial regulations are holding back the American economy, or getting in the way of American banks making money,’ Marcus Stanley, policy director at Americans for Financial Reform, said in a statement. ‘These claims are just an excuse to dismantle hard-won protections for consumers and financial stability.’
Since the financial crisis, the banking industry has largely thrived, according to the FDIC data. “
AFR IN THE NEWS: Labor Department Proposes proposes delay of retirement advisor rule until June to conduct Trump-ordered review (LA Times)
“Lisa Donner, executive director of Americans for Financial Reform, a coalition that supports tougher Wall Street regulations, said the delay was ‘clearly part of the administration’s plan’ to scrap the rule.
‘Blocking the common-sense, long-overdue rule, which requires retirement advisors to act in their customers’ best interests, would allow Wall Street to continue to grab more than $17 billion a year — tens of millions of dollars a day — from retiree savings,’ she said. ‘This decision is not justified by the facts, and it is a betrayal of the public interest.'”
AFR IN THE NEWS: Ohio senators split votes on Trump pick to lead Treasury (Dayton Daily)
“‘It should be a very grave concern to every Senator that new evidence that One West engaged in illegal robo-signing keeps turning up, even though Mnuchin denied it,’ said Lisa Donner, executive director of Americans for Financial Reform. ‘They should be demanding honest answers, and demand that any candidate for Treasury Secretary demonstrate a commitment to following the law.’”
AFR Statement: Trump Hands Financial Regulation Over To Wall Street
We can, and will, fight at every step against Wall Street burning it all down — again. And we’ll fight for a financial system that serves an economy that works for the rest of us.