Washington, D.C. – The Securities Exchange Commission’s case against crypto trading platform Beaxy and its executives for operating an unregistered exchange will build out the ongoing effort by regulators to enforce laws on the books to stop harmful activities within the crypto industry, according to Americans for Financial Reform and Demand Progress.
A successful independent investigation into the failure of the Federal Reserve to prevent the failure of Silicon Valley Bank and the current banking crisis must have a broad scope and the authority to collect and make public the evidence from the probe, according to Americans for Financial Reform.
The Second Circuit Court of Appeals today unanimously declared the funding structure of the Consumer Financial Protection Bureau (CFPB) is constitutional, rejecting the Fifth Circuit Court’s ruling in CFPB v. CFSA and writing that it “cannot find any support” for the Fifth Circuit’s ruling in Supreme Court precedent.
Washington, D.C. – President Biden vetoed a misguided Congressional Review Act resolution that sought to nullify a Department of Labor rule that protects workers and their life savings.
President Biden’s and Congress’s efforts to begin to hold the executives of Silicon Valley Branch accountable are important to rein in the reckless and imprudent practices of senior bank executives, who have gamed our financial system and hurt communities in the process. True accountability includes executives forfeiting enormous bonuses, while their bank is on the brink of failure.
Washington, D.C. – The swift demise of Silicon Valley Bank and Signature Bank and the actions taken by the federal regulators over the weekend underscore the folly of the partial rollback of the Dodd-Frank law in 2018 and the need, looking forward, for strict oversight of large banks and the entirety of the financial system.