AFR in the News: Bank Lobbyists Help Write Financial Bills
Citi’s recommendations influenced “more than 70 lines” of an 85-line bill. Two key paragraphs “were copied nearly word for word” from a draft prepared by Citi and two other large banks.
AFR Weighs in on Defining Larger Market Participants for Student Loan Servicing
AFR joined public interest groups in weighing in on the CFPB’s proposal defining larger market participants for student loan servicing.
AFR in the News: Banks Using Trade Talks to Weaken U.S. Rules
“U.S. bankers and insurers are trying to use trade deals, which can trump existing legislation, to weaken parts of the Dodd-Frank Act…,” according to Carter Dougherty of Bloomberg.
AFR Opposes HR 1135
AFR sent a letter to members of Congress opposing HR 1135, the “Burdensome Data Collection Relief Act.” This legislation would repeal Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which requires that companies report the ratio of CEO to median worker pay.
AFR Opposes HR 1105
AFR sent a letter to members of Congress opposing HR 1105, “The Small Business Capital Access and Job Preservation Act.” This legislation would exempt nearly all private equity fund advisers from the registration requirements in the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Priorities for the CFPB
AFR sent a letter to the CFPB commending their excellent work, and listing a set of issues that we feel should become priorities for the bureau in the future.
AFR and Member Organizations Oppose HR 1062
AFR joined more than a dozen organizations in sending a letter to members of Congress urging that they oppose HR 1062, the “SEC Regulatory Accountability Act”. This legislation would imperil the implementation of many important financial regulatory rules by adding numerous unnecessary procedural requirements to rulemakings by the Securities and Exchange Commission (SEC).
AFR in the News: House Derivatives Bills Challenged
Banks could “take exotic swap dealings and put them inside the public safety net, and we could all get stuck bailing these guys out like we did in 2008,” AFR policy director Marcus Stanley told the Washington Post.
AFR Opposes HR 1062
AFR sent a letter to members of Congress urging them to oppose HR 1062, “SEC Regulatory Accountability Act”. This legislation would imperil the implementation of many important financial regulatory rules by adding numerous unnecessary procedural requirements to rulemakings by the Securities and Exchange Commission (SEC).
AFR in the News: Getting Specific on Capital Requirements
The Dodd-Frank Act, Mike Konczal points out on washingtonpost.com (5/6/13), left it to regulators to decide how much capital banks must set aside. And U.S. regulators have ceded much of the task to the international panel of bank overseers working on the standards known as