Senator Warren’s Speech: The Unfinished Business of Financial Reform
Category Archives: Financial Reform News
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.”
AFR in the News: Democratic Support Wanes for Changes in Dodd-Frank (CQ Roll Call)
“Call it the Elizabeth Warren effect. The Massachusetts Democratic senator’s anti-Wall Street crusade may help explain a small but noticeable drop in support for big banks among Democrats on Capitol Hill. The decline turns up in an analysis of voting patterns during the 113th Congress soon to be released by Americans for Financial Reform, an advocacy group that promotes Wall Street accountability.”
Letter to Congress: AFR Opposes Legislation that Would Undercut Protections for Consumers, Undermine the CFPB
AFR sent a letter to members of the House Financial Services Committee, urging them to oppose a number of the bills being included in today’s markup. The bills opposed by AFR would undermine the CFPB and help return us to an environment of predatory lending, irresponsible underwriting, and excessive fees that paved the way for our recent devastating housing crisis.
AFR Briefing: Presentation to Senate Banking Staff on Regulation of Large Regional Banks
AFR organized a briefing for Senate Banking staff on the regulation of large regional banks and the potential risks to the financial system that could emerge if regulatory authority over these banks is significantly diminished. AFR Policy Director Marcus Stanley and Professor Heidi Schooner of the Catholic University School of Law presented at the briefing.
Joint Letter: AFR Joins 26 Allies in Applauding DOL’s Commitment to Fiduciary Rule
“As organizations that support strengthening protections for retirement savers, we write to thank you for sending a proposed rule to the Office of Management and Budget (OMB) to update and close loopholes in the 40-year-old rules that apply when individuals receive professional advice about retirement investments. Updating protections for retirement savers is urgently needed and long overdue.”
AFR Statement: AFR Welcomes Administration’s Call for a Strong Fiduciary-Duty Requirement
President Obama came down squarely on the side of working families when he announced his support for reforms to establish a higher standard for investment advice. Developed and championed by the Department of Labor (DOL), these reforms will update a set of 40-year old rules governing those who give advice affecting the investment of money in employee retirement plans.
Joint Statement: Major Groups Applaud President’s Call for a Rule to Protect Americans’ Retirement Savings
The seven organizations that launched the SaveOurRetirement.org campaign – AARP, AFL-CIO, AFSCME, Americans for Financial Reform, Better Markets, Consumer Federation of America and Pension Rights Center – applauded President Obama’s public support today for the Department of Labor’s (DOL) proposed rule to limit conflicts of interest, increase accountability, and strengthen protections for Americans receiving retirement investment advice.
Joint Statement: After Felony Tax Evasion Scheme, Credit Suisse Does Not Deserve a DOL Waiver
If federal regulations and ethical standards for pension fund asset managers are to have “any meaning,” the Department of Labor must not give Credit Suisse a waiver, say AFR and the AFL-CIO in a joint statement.