Read our fact sheet, “The Fight for a Strong Consumer Financial Protection Bureau and Director” here Read our talking points on Richard Cordray’s Nomination to Lead the CFPB here ————————————————————————————————- The Fight for a Strong Consumer Financial Protection Bureau and Director There’s good news and
Click here to view this week’s highlights and lowlights in Wall Street Reform – November 5, 2011 – November 10, 2011.
AFR sent a letter to the Senate opposing S. 1720, which would give big business veto power over any effective regulation.
Making the Volcker Rule Work Wednesday, November 9th, 9:30 to 1:00 Location – Hart Senate Office Building, Room 902 Presented By: Americans for Financial Reform Volcker Rule Conference Agenda 9:30 – 10:00: Keynote Addresses Introduction by AFR Executive Director Lisa Donner 9:30 to 9:45:
AFR signed onto a letter with other business, consumer, and labor groups supporting full funding for the CFTC.
Click here to view this week’s highlights and lowlights in Wall Street Reform – October 29, 2011 – November 4, 2011.
MF Global provides first test for Dodd-Frank – Ira Teinowitz (The Deal)
“Marcus Stanley, policy director of Americans for Financial Reform, a coalition of consumer and labor groups, called the bankruptcy a warning to regulators that the Volcker Rule should be implemented strictly. ‘MF Global’s failure — like the recent proprietary losses by Goldman Sachs — underlines the risks of speculative proprietary bets,” he said. ‘A tough Volcker Rule will restrict this kind of speculation to institutions that are ‘small enough to fail’ and prevent the giant investment banks central to the economy from taking these kinds of risks.’”
The Tax Plan That Occupy Wall Street Loves – Yuval Rosenberg (The Fiscal Times)
“In a letter to Sen. Patty Murray (D-Wash.) and Rep. Jeb Hensarling (R-Texas), the co-chairs of the congressional ‘super committee’ tasked with finding $1.2 trillion in deficit reduction measures by November 23, a group called Americans for Financial Reform, which is a coalition of more than 250 economic, union, and activist groups, explained why it’s backing the tax: ‘The deficit problem that the Select Committee must address was to a significant degree created by the world financial crisis, a crisis caused by Wall Street speculation.'”
AFR sent a letter to the Federal Reserve and FDIC on the reported transfer of the Merrill Lynch derivatives book to Bank of America’s depository subsidiary, which could expose taxpayers to substantial additional risks.”
AFR wrote a letter to the CFTC urging them to maintain strong business conduct standards for derivatives dealers when dealing with municipalities and pension funds.