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
AFR in the News: Derivatives Vote Could Ignite Debate on Dodd-Frank Fixes
Under H.R. 677, the CFTC loses its jurisdiction over inter-affiliate swaps, which are defined so loosely that, according to AFR’s Marcus Stanley, “the affiliates don’t even need to share majority ownership… That’s a big, whopping exemption.”
AFR Statement on Nomination of Mel Watt to Lead FHFA
“It is past time for new leadership at FHFA, and we urge swift action to bring about that change.”
AFR Supports Enhanced Regulations for Foreign Banks
AFR submitted a comment letter supporting the proposed rules by the Board of Governors of the Federal Reserve System that set out enhanced prudential standards for foreign banking organizations and foreign non-bank financial companies.
AFR Statement on Proposals by Senators Brown and Vitter
AFR issued a statement on proposals introduced by Senators Brown and Vitter in the US Senate.
AFR in the News: Advocates Urge SEC to Start Fresh on JOBS Act Rule
“Think of the precedent… rushing forward with the aspects of the rule supported by industry while offering the faint possibility that the commission might one day get around to addressing the concerns raised by investors.”