“Today, Senators Mark Warner and Elizabeth Warren, as well as Congressman Elijah Cummings have introduced an important new piece of legislation that takes a comprehensive approach to addressing failures in oversight of the $500 trillion global derivatives market, and would go far to protect the public against the risks of another disastrous meltdown in critical financial markets.”
AFR’s Alexis Goldstein gave opening remarks at the launch of the AFT Report “Regulating Too-Big-to-Fail Education.” In her remarks, Goldstein outlined the parallels between the for-profit college crisis and the subprime mortgage crisis.
“We are writing in response to the letter you received recently from a number of industry trade groups opposing the inclusion of preferred language data fields in the redesigned Uniform Residential Loan Application (URLA)… The URLA redesign presents a unique and unprecedented opportunity to take an important first step towards addressing equitable access to the mortgage market for LEP consumers and we strongly urge you to include preferred language data fields.”
“Americans for Financial Reform (“AFR”) appreciates the opportunity to comment on the Federal Reserve Board’s (the “Board”) Notice of Proposed Rulemaking (“Proposed Rule” or “Proposal”) on the above-mentioned rule. Section 165 of the Dodd-Frank Act mandates the imposition of single counterparty credit limits (SCCL), and significantly expands the range of exposures that are captured under such limits. This Proposed Rule is a re-proposal of the Board’s original 2011 proposal regarding credit exposure limits, and makes a number of changes to the original proposal. ”
“On behalf of Americans for Financial Reform (AFR), we are writing to ask for your opposition to ideological policy riders in the current draft of – and proposed amendments to – the Financial Services and General Government Appropriations Act of 2017 (H.R. 5485) and for your support for amendments to remove such riders.”
“Americans for Financial Reform urges you to oppose H.R. 5211 or any similar bills that weaken the Consumer Financial Protection Bureau (CFPB) by confusing its statutory purpose or undermining its leadership structure. “
“[W]ith populist anger aimed at Wall Street during this presidential election season rising, the ‘carried interest loophole,’ which allows the managers of private-equity firms to pay a lower tax rate, is back in the spotlight. ‘This year is just different. There has been a populist surge politically in both parties,’ said Marcus Stanley, policy director for Americans for Financial Reform. ‘Having the wealthiest people in the financial system paying a lower rate than everyone else is even harder to swallow. People realize that it doesn’t have to be like this.'”
“AFR joined 51 other organizations to oppose any appropriations provision that would delay or block implementation of the Education Department’s gainful employment regulation or otherwise weaken or stall student protections from unscrupulous actors in the 2017 Commerce, Justice, Science Appropriations bill”
“As organizations that support the Department of Labor’s (DoL) rule to update and strengthen protections for retirement savers, we are writing to thank you for standing up for your hardworking constituents saving for retirement and opposing HJ Res 88, the Resolution of Disapproval that would block the rule’s implementation, when it was considered on the House floor in April. The House of Representatives is expected to vote tomorrow on whether to override President Obama’s veto of the Resolution and we ask you to again stand with your constituents and oppose the veto override. This rule is a tremendous accomplishment in the fight to improve our nation’s retirement income security and should be supported.”
“If these measures became law, long and painful experience suggests they would cause capital to move from sound and regulated investments into dangerous and unregulated investments. The net effect would be to weaken regulatory oversight, reduce transparency, and generally undermine the regulatory framework that helped make America’s financial markets the deepest, most vibrant markets in the world.”