This Week in Wall Street Reform
Click here to view this week’s highlights and lowlights in Wall Street Reform – February 4, 2012 – February 10, 2012.
Category Archives: Financial Reform News
Tell the CFTC: Don’t Let Big Banks Make Taxpayer-Backed Bets
The “Volcker Rule” is a part of the Dodd-Frank Wall Street reform bill that bans banks and other large, critical financial institutions from making risky, speculative bets using taxpayer backed funds – a practice called “proprietary trading.” Tell the financial regulators to write a strong “Volcker Rule” and end excessive speculation at big Wall Street banks that puts the public at risk.
AFR Letter: Oppose HR 3283
AFR sent a letter to members of congress urging them to reject HR 3283, a bill that would exempt foreign affiliates of U.S. banks from all the major protections against derivative risks contained in Title VII of Dodd-Frank.
AFR Letter: Don’t Cripple the CFPB, Reject HR 1355 & 2081
AFR sent a letter to members of the House Financial Services Subcommittee on Financial Institutions and Consumer Credit asking that they reject HR 2081 and HR 1355, two bills that would cripple the CFPB.
This Week in Wall Street Reform
Click here to view this week’s highlights and lowlights in Wall Street Reform – January 28, 2012 – February 3, 2012.
Sign On Letter: AFR Urges SEC to Reject Carlyle Group’s Forced Arbitration Language in Registration Statement
Nine public interest organizations sent a letter to the U.S. Securities and Exchange Commission, asking the agency to reject the Carlyle Group, L.P.’s attempt to insert forced arbitration language into its registration statement for its initial public offering. The inserted language both limits shareholders’ rights and weakens the agency’s oversight abilities.
AFR Comment Letter: AFR Supports a Direct Monitoring Approach for Asset Backed Securities
AFR submitted a comment letter to the FDIC, OCC, and Federal Reserve Board in response to their joint request for comment on new rules replacing the use of credit ratings in setting capital requirements for debt and securitization positions held by banks.
AFR Letter: Oppose HR 3461
AFR sent a letter to members of Congress asking that they oppose HR 3461, the “Financial Institutions Examinations Fairness and Reform Act.” This legislation would tilt the playing field further in the direction of industry interests and tie the hands of regulators attempting to protect the public interest.
Sign On Letter: AFR Supports a Public Credit Card Complaints Database
AFR signed onto a comment letter to the CFPB with 21 organizations recommending that they expand their excellent proposal to create a public database for credit card complaints to include actual complaint narratives, and suggestions to make it easier for researchers and the public to access the data as a pre-purchase tool to avoid problems and to help identify where troubling trends lie.
(Comments drafted by Consumer Action)
This Week in Wall Street Reform
Click here to view this week’s highlights and lowlights in Wall Street Reform – January 21, 2012 – January 27, 2012.