“On behalf of Americans for Financial Reform, we are writing to express our support for proposed changes…by the Federal Reserve Board of Governors… to the FR Y-15 systemic risk reporting form… regarding the treatment of cleared over-the-counter derivatives transactions.”
Congress should abandon budget rider proposal that would eliminate independent funding for the CFPB and other poison pills.
“Following a Wall Street-induced financial crisis that cost millions of people their homes and jobs, the CFPB began its work as the first federal body with the mission and capacity to stand up for everyday Americans in their dealings with the financial services companies who have such an impact on our lives each and every day. Obtaining $12 billion in relief for over 29 million Americans is a great accompishment.”
Congress ought to be passing robust new consumer protections, not doing favors for banks. Annual industry earnings by banks set a new record in 2016, and community banks saw even faster growth than big banks. Over 95 percent of community banks turned a profit last year.
AFR sent a statement on a House Financial Services Committee hearing reviewing three bills. AFR Statement on 11-3 HFSC Hearing
The New York investment bank has had other periods in the sun, but never before have its priorities been so hardwired into an administration in Washington. The report details Goldman’s interests in areas of public policy including financial regulation, tax cuts and infrastructure.
This rush toward a vote in the Senate is a cynical attempt to roll back an important consumer protection before anyone gets straight answers from Equifax and Wells Fargo about the damage they’ve done to the financial lives of millions of Americans.
AFR Statement: Delay of Fiduciary A Ripoff of Retirement Savers, Gift to Wall Street’s Financial Advisers
Retirement savers need the fiduciary rule, fully enforced, to help ensure they can enjoy a dignified retirement. See the story of Steve Wingate to learn what happens without this common-sense protection.
Members of the Save Our Retirement coalition speak out forcefully against the Department of Labor’s proposed delay of the fiduciary rule, a common-sense protection that would ensure savers get the best advice possible.
Bankers response to Sen. Elizabeth Warren about use of forced arbitration and cite tired, old arguments. But they won’t say publicly they want the CFPB’s rule reversed.