NEWS RELEASE: AFR Applauds Bill Expanding Local Government, Municipality Access to Pandemic Relief Funding
Uplifting Our Local Communities Act would expand access to CARES Act funding to state and local governments
News Category: Press Releases & Statements
Statement: AFR on the Fed’s “Broad Market Index” for the Secondary Market Corporate Credit Facility
The Federal Reserve Bank of New York announced the initial composition of the index they will be using to purchase corporate bonds through its Secondary Market Corporate Credit Facility (SMCCF). The corporations included in their June 5 “Broad Market Index” raise serious concerns about public benefit, solvency, and further incentivizing companies to take on additional debt unnecessarily.
NEWS RELEASE: Supreme Court Sides With Industry Seeking to Weaken CFPB
In the wake of the destruction caused by the last financial crisis, Congress created an independent cop on the beat focused solely on protecting consumers in the financial marketplace. With today’s decision in Seila Law v. CFPB, the Supreme Court has chosen to ignore Congressional intent to maximize the bureau’s independence to best protect the American public from harm.
NEWS RELEASE: Federal Reserve Stress Test Results Highlight Failures of the Stress Testing Framework
Instead of providing a realistic assessment of the solvency and capital position of individual banks, today’s release highlights the failures and politicization of the stress testing program and its inability to ensure capital adequacy.
NEWS RELEASE: On Partisan Vote, Financial Regulators Move to Tear Down Critical Controls on Bank Risks
Five regulators finalized changes to the Volcker Rule dramatically weakening limits on bank investments in hedge funds, private equity funds, and other “external funds”. The vote was partisan, with not a single Democratic appointee voting for the change.
NEWS RELEASE: AFR Education Fund and Demand Progress EF Reject Recent Changes to the Libra Association’s White Paper as Insufficient
Americans for Financial Reform Education Fund and Demand Progress Education Fund released a joint report, making the case for policymakers to take action to prevent the Geneva-based Libra project from evading regulation and going into effect as proposed.