Financial Reform News Archives - Page 22 of 122 - Americans for Financial Reform

Press Release: More than 230,000 Petition Signers Support a Strong Fiduciary-duty Rule for Retirement Investment Advisers

With the rulemaking process moving into its final stages, the Department of Labor received a delivery today of petitions in which more than 230,000 signers call for action to protect Americans against self-serving retirement advice. The signatures were gathered by CREDO Action, MoveOn.org, Americans for Financial Reform, and Public Citizen. Ethel Sprouse, the former Mayor of Cedar Bluff, Alabama, accompanied the petition deliverers and told her story at the event.

AFR Statement: AFR Supports the Consumer Reporting in Bankruptcy Act of 2015

The Consumer Reporting in Bankruptcy Act of 2015 will keep borrowers from continuing to be haunted and harmed by debts discharged in bankruptcy. Millions of consumers who are in bankruptcy find themselves continuing to deal with debts that remain on their credit reports even though they have been discharged. Passage of this bill would be a big help to consumers who too often have their credit scores negatively impacted by debts erroneously remaining on their reports, or pay debts they do not owe.

Letter to the President: AFR, 16 Organizations Urge President Obama to Nominate Candidates with a Record of Investor Protection to the SEC

“We are writing regarding the upcoming vacancies at the Securities and Exchange Commission (SEC). We believe that it is of utmost importance that you nominate candidates with a strong and demonstrated commitment to protecting investors and to moving ahead with needed reforms in our financial markets.”

AFR Report: Where They Stand on Financial Reform

In a new report, Americans for Financial Reform looks at what the 113th Congress did in 2013-2014 to advance or impede the cause of stronger regulation of the financial industry. AFR’s report, Where They Stand on Financial Reform (view or download PDF here), tracks a

AFR in the News: Banks Would Get Boost for Overseas Swaps in House CFTC Bill (Huffington Post)

“The legislation would make it easier for Wall Street to escape tough rules designed to make trading more competitive and transparent, Marcus Stanley, policy director for Americans for Financial Reform, said in an interview. ‘It could undo various parts of the Dodd-Frank Act by permitting American banks to transact in locations where swaps are not as well-regulated,’ Stanley said.”

Joint Letter: Corinthian Students Deserve Federal Loan Relief, Say AFR and 14 Cosigners

“Corinthian Colleges made many promises to its students – promises of a good education and job opportunities on the other side – but behind the slogans was an institution that churned out big profits by targeting unsuspecting, low-income students with predatory recruitment and lending practices. “

AFR Responds to Study Claiming High Costs of Dodd-Frank Act

The American Action Forum has released a study claiming that the Dodd-Frank Act will reduce total U.S. economic output by $895 billion between 2016 and 2025. But the study has multiple significant flaws. In sum, the AAF study both exaggerates the growth costs of regulation and fails to include benefits from regulation that would substantially exceed even these exaggerated costs.

Senator Warren’s Speech: The Unfinished Business of Financial Reform

AFR Statement: Elizabeth Warren Lays Out the “Unfinished Business” of Financial Reform

“Americans for Financial Reform has steadily advocated for many of the policy ideas outlined in her speech, and applauds this heightened push to advance them… Even more important, we support Senator Warren’s call for a renewed effort both to carry out the Dodd-Frank reforms and, based on the lessons of the implementation process up to now, move beyond ‘technocratic’ measures that can be easy for the biggest banks to outmaneuver toward a more ‘structural’ approach and the promise of a fundamentally simpler, safer and fairer financial system.”

Joint Statement: AFR and 40 Major Groups Applaud Public Release of DOL’s Proposal to Protect Americans’ Retirement Savings

“Members of the SaveOurRetirement.org coalition and a diverse collection of public interest groups, civil rights leaders, labor unions, professional organizations and others today commended the public release of the Department of Labor’s (DOL) proposed rule to protect Americans from conflicts of interest when brokers and other financial advisers give retirement investment advice.”