JPMorgan prepares for D.C.’s worst By: Anna Palmer (POLITICO) May 14, 2012 The scandal is also expected to reinvigorate supporters of stricter regulations for the financial services industry, particularly among those who feel the industry has been overly dismissive of concerns. Marcus Stanley of Americans for Financial Reform said the JPMorgan loss is “going to underline
London’s “Whale” Loses $2 Billion for JPMorgan BY MARLENE Y. SATTER, ADVISORONE May 11, 2012 “These losses underline the need for a strong Volcker Rule to prevent risky proprietary trading,” Americans for Financial Reform said in a statement. “Regulators need to get the rule done, and they need to get it right. The trades that led
FDIC Seeks to End ‘Too Big to Fail’ Bailouts ABC News May 10 Marcus Stanley, policy director of Americans for Financial reform, a public interest coalition in favor of financial reform based in Washington D.C., said there were still unresolved questions about these complex institutions. “We feel the FDIC needs to take serious steps to
Wall Street Sues for Pre-Crisis Rules, CFTC’s Chilton Says By Silla Brush and Steven Sloan “They want us to write off the 2008 financial crisis as an aberration and ignore countless reputable scholars who’ve found that the costs of opaque, unregulated derivatives markets are borne by the public,” Chilton said in remarks prepared for an event today
Banks divided on loan rules Federal agency pushes ability-to-pay mortgage tenet Carter Dougherty | Bloomberg News “This rule is aimed directly at the core deficiencies in the mortgage market that produced unsustainable loans, an inflated housing market, and resulting widespread economic hardship,” Americans for Financial Reform, a coalition of consumer advocacy groups, wrote Cordray in an April
Cordray divides banks with ability-to-repay loan rule – Carter Dougherty and Clea Benson (Bloomberg News) May 1, 2012 “Richard Cordray wants lenders to adhere to the most basic tenet of banking: making sure borrowers can repay. Getting them to agree on how is proving tougher… “This rule is aimed directly at the core deficiencies in