AFR in the News: Bank Lobbyists Help Write Financial Bills
Citi’s recommendations influenced “more than 70 lines” of an 85-line bill. Two key paragraphs “were copied nearly word for word” from a draft prepared by Citi and two other large banks.
News Category: AFR in the News
AFR in the News: Banks Using Trade Talks to Weaken U.S. Rules
“U.S. bankers and insurers are trying to use trade deals, which can trump existing legislation, to weaken parts of the Dodd-Frank Act…,” according to Carter Dougherty of Bloomberg.
AFR in the News: House Derivatives Bills Challenged
Banks could “take exotic swap dealings and put them inside the public safety net, and we could all get stuck bailing these guys out like we did in 2008,” AFR policy director Marcus Stanley told the Washington Post.
AFR in the News: Getting Specific on Capital Requirements
The Dodd-Frank Act, Mike Konczal points out on washingtonpost.com (5/6/13), left it to regulators to decide how much capital banks must set aside. And U.S. regulators have ceded much of the task to the international panel of bank overseers working on the standards known as Basel III. But some in Congress have begun to regret
AFR in the News: Derivatives Vote Could Ignite Debate on Dodd-Frank Fixes
Under H.R. 677, the CFTC loses its jurisdiction over inter-affiliate swaps, which are defined so loosely that, according to AFR’s Marcus Stanley, “the affiliates don’t even need to share majority ownership… That’s a big, whopping exemption.”
AFR in the News: Advocates Urge SEC to Start Fresh on JOBS Act Rule
“Think of the precedent… rushing forward with the aspects of the rule supported by industry while offering the faint possibility that the commission might one day get around to addressing the concerns raised by investors.”