Financial Reform News Archives - Page 65 of 125 - Americans for Financial Reform

Coalition Press Statement: Consumer Federation of America – Wall Street’s Oil Speculation Clobbers Main Street’s Consumers

The oil price spike of the past year, which saw gasoline prices increase by over a dollar from the summer of 2010 to the summer of 2011, will drive household expenditures on gasoline to a record average of $2900 this year. Crude oil is about $30 higher than costs or historic trends justify, generating needlessly high prices for petroleum products that will drain about $200 billion out of the economy.

AFR In the News: Regulators Advance Volcker Rule

Ben Protess (DealBook/NYT)
October 11, 2011

“Unfortunately, this initial proposal does not deliver on the promise of the Volcker Rule or the requirements of the statute,” said Marcus Stanley, policy director of American for Financial Reform, an advocacy group. …“The vagueness of the proposal, and the hundreds of questions it includes, also demonstrate that we are still in the middle of this process,” said Mr. Stanley. “It’s important to use this opportunity to strengthen the rule – and to prevent Wall Street lobbyists from weakening it still further.”

This Week in Wall Street Reform

Click here to view this week’s highlights and lowlights in Wall Street Reform – October 1, 2011 – October 7, 2011.

AFR Statement: Cordray Nomination Markup in Senate Banking Committee

“American families want and need someone to level the playing field and prevent tricks and traps in the financial services market”, said Lisa Donner, Executive Director of Americans for Financial Reform. “We call on all Senators to stand up for families and confirm Richard Cordray as CFPB director.

AFR Advisory: CFPB Conference Call Briefing

Washington, DC – Americans for Financial Reform will host a conference call with reporters and bloggers on Wednesday, October 5th at 2:00 PM EDT to discuss the Consumer Financial Protection Bureau (CFPB) and the importance of getting a Director in place so consumers are protected

AFR Memo on Servicemembers, the Military Lending Act, and the CFPB

October 1st marked the 4th anniversary of implementation of the Military Lending Act (MLA). Passage of the MLA was a recognition of the serious harm abusive consumer financial products do to our service members. It was an important step. But MLA rules are narrowly focused,

This Week in Wall Street Reform

Click here to view this week’s highlights and lowlights in Wall Street Reform – September 24, 2011 – September 30, 2011.

AFR’s Comment Letter Regarding Stable Value Contracts

Read AFR’s comment letter in response to regulators posing the questions of whether stable value contracts meet the definition of swaps in the Dodd-Frank Act, and, if so, whether they should be regulated as swaps or given an exemption. The letter points out that stable value contracts have the characteristics of swaps and also pose some of the same risks as swaps do. It does not take a specific position on whether stable value contracts should be subject to all swaps regulation, but does urge regulators to address these dangers by extending business conduct standards to issuers of stable value contracts and also to ensure that issuers of financial guarantees have sufficient resources to back up their promises.

AFR Comments to SEC on International Derivatives Study

Harmonious international financial regulation is best achieved by the timely implementation of Dodd-Frank-mandated regulations for derivatives. Contrary to claims made by Wall Street and its allies, postponing the implementation of Dodd-Frank rules until the global community reaches a consensus on derivatives regulation would undercut efforts to achieve harmonious financial reform and expose American taxpayers to significant economic risk.

This Week in Wall Street Reform

Click here to view this week’s highlights and lowlights in Wall Street Reform – September 17, 2011 – September 23, 2011.