Financial Reform News Archives - Page 9 of 122 - Americans for Financial Reform

Fact Sheet: SEC’s “Regulation Best Interest” Will Harm Vulnerable Investors

Do not be deceived by the label. The so-called “best interest” standard doesn’t require brokers to do what’s best for their customers. It will not require them to recommend the investments they reasonably believe are the best match for the customer, and it will not require them to consider costs except when comparing otherwise identical securities. That’s why state securities regulators have warned that the proposal “subverts,” rather than protects, investors’ best interests.

Event: Panelists Discuss Gifts To Wall Street And Lack Of Preparation For Future Crises Under Trump Regulators

Read or download PDF version of the event’s agenda. Read U.S. Sen. Sherrod Brown’s (D-OH) remarks on Trump Administration’s big bank rollbacks. Read or download PDF version of former Fed Governor Daniel K. Tarullo’s remarks “Taking the Stress Out of Stress Testing“ Video of the

Testimony: Heather Slavkin Corzo Testifies About Policies To Protect Investors, Increase Transparency, And Promote Worker Rights

The message, for too long, has been that policymakers must choose between policies that protect shareholders’ interest and those that protect workers’ interests. Investors know that economic stability is good for investment outcomes. Over the long-term, economic stability requires broad-based economic growth and shared prosperity.

Save The Date: Join AFR Ed Fund At Its ‘Big Bank Regulation Under The Trump Administration’ Conference

Join us on May 21st for an analysis and discussion of the important developments in the regulation and supervision on big banks, and their effects on financial security and economic stability. View the details here, or below.

AFR Statement: Senate Banking Hearing on Bank Supervision

AFR submitted the below statement to the Senate hearing on Guidance and Supervisory Expectations AFR Submission to Senate Banking Committee April 30th Hearing

100 dollar bills - Photo by Pepi Stojanovski on Unsplash

Report: Wall Street Pumps $1.9 Billion into Political Process in 2017-18 Election Cycle

The $1.9 billion Wall Street poured into American politics includes contributions to campaign committees and leadership PACs ($922 million) and lobbying expenditures ($957 million). The money backed a massive rush of pro-industry nominees and legislation over the last two years, at a time when the biggest banks made $100 billion in profits for the first time.

Joint Letter: Letter to HUD about OIG Report on DASP Loans

On April 29, 2019, AFR Education Fund and several coalition partners sent a letter to the U.S. Department of Housing and Urban Development (HUD) about our concerns with the Office of Inspector General’s April 9, 2019 report regarding the servicing of mortgage loans eventually sold through

AFR Report: Finance for a Fair Economy – Managing the Financial Cycle

The financial cycle is a concept developed by economists to understand the reasons why finance-driven growth can be self-defeating. Policymakers need to rebalance our response to recessions and financial crises to prevent any repetition of the experience of 2008-2009, in which benefits flowed to Wall Street, not ordinary Americans.

AFR-CEPR Research: Small Donations Show Growing Power of Grassroots Vs. Wall Street

New members of Congress demonstrated substantially less reliance on money from the financial services industry than incumbents who won re-election in 2018. First-term Democratic members of the House raised, on average, 17 percent of the money for their campaign committees from small donors, compared with 9.4 percent by Democratic incumbents who won re-election.

Letter to Congress: Letter from 61 Groups in Support of the Wall Street Tax Act of 2019

On behalf of the 61 undersigned organizations, we are writing to urge you to co-sponsor the Wall Street Tax Act of 2019 being introduced by Sen. Brian Schatz (D-Hawaii) and Rep. Peter DeFazio (D-Ore.).