AFR sent a letter to members of Congress urging them to oppose HR 1038. This legislation would make it easier for major dealers in the energy markets to avoid appropriate designation as swaps dealers, and would also remove important protections for public utilities in their swaps transactions.
Tell the House of Representatives to say No to HR 1256, a bill that would open the way to a dangerous new surge of Wall Street gambling.
AFR sent a letter and one pager regarding HR 1256, the “Swaps Jurisdiction Certainty Act” to members of Congress, urging them to oppose the bill. HR 1256 would severely undermine regulators ability to protect U.S. taxpayers from risks that arise from overseas derivatives trading.
Here’s a way to raise hundreds of billions of dollars, get Wall Street to shoulder more of the responsibility for America’s economic recovery, and curb the kind of dangerous high-frequency trading that puts the financial system at risk. A small tax on sales of stocks,
“We expected that it would be hard to keep what we’d won and do more going forward,” AFR’s Lisa Donner tells USA Today. “It’s been slower and harder than we’d hoped.”
AFR sent a letter to regulators emphasizing the lessons from the Senate Permanent Subcommittee on Investigations (PSI) report on the London Whale.
AFR submitted a comment letter to the CFPB supporting their proposed guidance clarifying the relationship of their servicing rules to stronger state laws. The letter also makes suggestions for improvement.
AFR joined more than 45 organizations in submitting a comment letter to the OCC and the FDIC supporting their proposed guidance on bank payday lending. The letter praises their proposal, and adds some additional steps that we believe would be beneficial to curbing the use of payday loans.
AFR sent a letter to members of Congress opposing S. 949, legislation which promotes steering borrowers into more expensive loans.
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.