AFR Letter: Oppose HR 1588
AFR sent a letter to members of Congress urging them to oppose HR 1588, a bill that would preempt state laws with stronger protections for rent-to-own consumers.
Sign on Letter: Groups Urge Pro-Investor Approach to JOBS Act Rulemaking
AFR signed onto a letter that was sent to the SEC urging them to adopt an investor-friendly approach that protects against the abusive sales practices in the private offering marketplace.
Tell Regulators to Learn the Lessons of JP Morgan and Implement a Strong Volcker Rule
The news has been full of stories of JP Morgan’s unexpected losses on risky derivatives bets. Losses started at $2 billion just a week ago. But now they are clearly in excess of $3 billion, potentially $5 billion, and possibly even more. These losses remind
AFR in the News: Learning From Facebook
Huffington Post By Robert Weissman At the time the bill was under consideration, critics (including Public Citizen) suggested the JOBS Act was basically pro-fraud legislation. “The legislation is premised on the dangerous and discredited notion that the way to create jobs is to weaken regulatory
AFR Statement: JP Morgan Losses, Global Derivatives Regulation, and Today’s Speech by Gary Gensler
AFR released a statement on the JP Morgan losses, global derivatives regulation, and the speech by Gary Gensler at the Financial Industry Regulatory Authority (FINRA.)
AFR in the News: HOW BANKS BOUGHT THE TEA PARTY
Think Progress By Josh Israel and Adam Peck But in Congress, the Tea Party has toed the line for big banks. Eleven of the 15 have become co-sponsors of H.R. 3461, a top priority for the ABA. According to Americans for Financial Reform, the legislation would “tilt the playing field further
AFR in the News: Financial-Reform Group: JPM Clearly Was Not Hedging
American Banker By Joe Adler MAY 18, 2012 In a conference call with reporters Friday, Americans for Financial Reform argued — counter to claims by the Wall Street giant — that the trades by the firm’s London investment office resulting in at least $2 billion
AFR Press Advisory/Press Briefing: JP Morgan Losses – ‘Hedging’, Derivatives, and Financial Regulation
AFR released a press advisory regarding a press call regarding JP Morgan’s $2 billion loss.
AFR Letter: Oppose H.R. 1840
AFR sent a letter to members of Congress urging them to oppose H.R. 1840, legislation that unnecessarily adds over a dozen additional requirements to the already existing statutory cost-benefit requirements for the Commodity Futures Trading Commission (CFTC). These requirements would effectively paralyze the agency’s rule writing capacity, and make it impossible for the CFTC to implement laws passed by Congress to safeguard our financial system.
AFR in the News: Obama Wall Street Shuffle: President Plays To Populist Outrage And Campaign Finance
By Zach Carter (HuffingtonPost) “Hedging is not about profits, it’s about reducing risk,” said Marcus Stanley, policy director at Americans for Financial Reform, a coalition of consumer, small business and labor groups that backs financial reform. “If you look at [JPMorgan’s] Chief Investment Office, they