AFR has previously called on the SEC to strengthen its rules on credit ratings agencies. This proposal describes a method by which the SEC could change ratings agency incentives to prevent the kinds of large-scale misratings that helped trigger the financial crisis.
AFR issued a statement to the press regarding the June 10 markup in the House Financial Services committee.
AFR sent a letter to members of Congress, urging them to oppose HR 2629, HR 4564, and HR 4697. These three proposals would reduce investor protections and market transparency without genuinely benefiting sustainable capital formation and job growth.
AFR sent a letter to members of Congress urging that they reject HR 4387. The FSOC is crucial to protecting American families and workers from the impacts of a financial crisis. If enacted, this legislation would hinder FSOC operations.
AFR and more than twenty public interest, consumer, and labor organizations sent a letter to members of Congress urging them to oppose HR 3211. This legislation would reopen the door to the higher fees borrowers faced in the lead up to the mortgage crisis.
AFR and more than fifteen organizations submitted a letter to members of the House Financial Services Committee, calling on them to defend the CFPB from specific legislative attacks.
40 million Americans currently owe some $1.2 trillion in student loan debt, which is making it hard for people to buy cars, homes, and even daily necessities. In one recent survey, 29 percent of borrowers said that student loans had caused them to delay getting married…
So this is a problem that fully deserves the double-barreled attention it is getting from the Senate. And more: it deserves meaningful action from regulators and legislators alike.
“There is still ‘great risk of going back even on the commitments that have been made final,’ said Marcus Stanley, policy director at Americans for Financial Reform… ‘In no way is he just a caretaker for a job that’s just been completed by somebody else,” Stanley, referring to Massad, said in an interview. ‘To make derivatives reform a reality means taking on some powerful interests and pushing forward against significant opposition and we hope he’s up to it.’”
“The Office of the Comptroller of the Currency, criticized for missing some high-profile problems such as JPMorgan Chase & Co.’s London Whale losses, will institute a five-year rotation schedule for in-bank examiners, the agency said today in response to a review of its practices by non-U.S. regulators. The regulator also said transfers to the risk-analysis group would reduce the number of on-site examiners.”
AFR submitted a comment letter to the CFTC regarding the importance of collecting data essential to analyzing potential systemic risk.