AFR Urges FHFA to Protect Homeowners and Taxpayers from Force Placed Insurance Abuses
AFR joined seven organizations in sending a letter to FHFA urging that they protect homeowners, investors, and taxpayers from costly force placed insurance abuses.
House Bill Would Smother Derivatives Reform in Phony Cost-Benefit Analysis
AFR letter sounds the alarm against HR 1003, which would undermine Dodd-Frank by more than doubling the number of cost-benefit analysis requirements imposed on the Commodity Futures Trading Commission (CFTC).
AFR in the News: Much to Do to Prevent Another Lehman Brothers
“The giant financial institutions at the center of the economy are larger than ever, and still combine economically critical payment functions with complex and murky trading and brokerage activities.”
Public Interest Groups Urge Banks to Discontinue Payday-Style Loans
AFR joined public interest groups in signing onto two letters to Fifth Third Bank and Regions Financial Corporation calling on them to bring themselves in line with guidance from the federal regulators and discontinue their deposit advance products.
New Poll Shows Strong Support for Financial Regulation Five Years after the Crisis
While many in Washington would rather stand pat or turn back the clock, Americans are strikingly united in wanting more financial reform, not less, according to a national survey of likely voters conducted this summer.
Consumer Advocates Respond to New Report on Credit Cards and the Impact of the CARD Act
Consumer Action’s press release Consumers Union’s press release National Consumer Law Center’s press release
Really Small Wall Street Tax Could Make a Really Big Difference
Congress will soon be back from recess – and back to gnashing its teeth over the budget and the various important things that, too many in that branch of government now contend, our country can no longer afford to do. They could expand their sense of the possible by considering a source of revenue they have so far largely ignored – a small tax on sales of stocks, bonds, and complex financial instruments.
AFR Appeals for Strong SEC Action to Regulate International Derivatives
Overseas affiliates of U.S. banks played a major role in the final meltdown of 2008-2009, at a cost of millions of jobs and trillions of dollars. Financial institutions must not be allowed to escape oversight by “off-shoring” their riskiest deals.
AFR in the News: Obama Presses for Action on Bank Rules
President Obama urged the nation’s top financial regulators on Monday to move faster on new rules for Wall Street, telling them in a private White House meeting that they must work to prevent a repeat of the 2008 financial crisis.
SEC Urged to Maintain Independence of its Municipal Securities Rulemaking Board
AFR and its member organizations warn against a proposal that would “severely weaken” the independence measures called for by the Dodd-Frank financial reform law. “A Board dominated by employees of major banks and dealers with subsidiaries active in the municipal market will not be a truly independent Board.”