Here’s a way to raise hundreds of billions of dollars, get Wall Street to shoulder more of the responsibility for America’s economic recovery, and curb the kind of dangerous high-frequency trading that puts the financial system at risk. A small tax on sales of stocks,
AFR sent a letter to members of Congress opposing S. 949, legislation which promotes steering borrowers into more expensive loans.
AFR sent a letter to the CFPB commending their excellent work, and listing a set of issues that we feel should become priorities for the bureau in the future.
The Dodd-Frank Act, Mike Konczal points out on washingtonpost.com (5/6/13), left it to regulators to decide how much capital banks must set aside. And U.S. regulators have ceded much of the task to the international panel of bank overseers working on the standards known as
Under H.R. 677, the CFTC loses its jurisdiction over inter-affiliate swaps, which are defined so loosely that, according to AFR’s Marcus Stanley, “the affiliates don’t even need to share majority ownership… That’s a big, whopping exemption.”
“Think of the precedent… rushing forward with the aspects of the rule supported by industry while offering the faint possibility that the commission might one day get around to addressing the concerns raised by investors.”
Confirm Richard Cordray as Director of the CFPB THE CONSUMER FINANCIAL PROTECTION BUREAU’S WORK IS CRUCIALLY IMPORTANTThis is the agency created after the 2008 financial crisis to establish basic rules of fairness and transparency for mortgages, credit cards, student loans, auto loans, debt collection and
AFR joined more than twenty public interest groups in sending a letter to SEC Chairman Mary Jo White advocating for effective regulation of executive compensation.
AFL-CIO, AFR, and Consumer Federation of America sent a letter to SEC Chairman Mary Jo White arguing that the Commission needs to re-propose the general solicitation rulemaking for the JOBS act in order to incorporate basic investor protections not included in the proposed rule.
The Federal Reserve has heard plenty from U.S. banks about what’s wrong with various proposed pieces of Dodd-Frank rulemaking. Now, according to Kate Davidson of Politico Pro (April 15), the Fed is “getting an earful from foreign banks and their regulators, too.”