AFR submitted a comment to the FDIC and the Federal Reserve on the rules implementing the Dodd-Frank requirement that companies submit “living wills” and records of credit exposures. “Living Wills” are plans detailing how the company could be resolved through the bankruptcy process without a need for government intervention. AFR supported the rules but suggested they be strengthened by requiring planning for situations of market stress and also by establishing more thorough and continuous records of credit exposures.
Senators could be voting today on proposals to gut the CFPB and to repeal ALL of the progress we made on financial reform. In a last minute development, opponents of financial reform are pushing for votes TODAY on amendments to gut the new Consumer Financial Protection Bureau (CFPB) (#391 – Moran), and to repeal the
A big reason why we have suffered through the financial crisis and Great Recession is that banking regulatory agencies were looking out for short-term profits at big banks – not looking out for consumers, investors or economic stability. The American public wants and needs an effective Consumer Financial Protection Bureau (CFPB) to prevent rip-off financial
Read our letter to Senators urging them to oppose the Moran amendment (#391) to gut the CFPB and oppose DeMint the amendment (#394) to repeal all of Dodd-Frank to Economic Development Revitalization Act, S. 782.
