Rep. Carolyn Maloney (D-NY), Ranking Member of the Financial Institutions and Consumer Credit Subcommittee of the House Financial Services Committee, and Rep. Barney Frank (D-MA), Ranking Member of the full House Financial Services Committee, today hailed the first 100 days of the Consumer Financial Protection Bureau.
Read our letter opposing the regulatory accountability act here
AFR authored a letter in support of the Wall Street Trading and Speculators Tax Act of 2011 introduced by Senator Harkin and Representative DeFazio.
Eliza Newlin Carney (Roll Call)
“After weeks of waving signs and chanting with no clear policy objective, Occupy Wall Street protesters finally have an issue to rally around: a tax on Wall Street. Known in Occupy movement parlance as the ‘Robin Hood tax,’ taxes on trades of stocks, bonds and derivatives are getting a fresh look on Capitol Hill and may draw thousands of protesters to Washington, D.C., next week. Helping lead the charge are an unlikely breed of tax activist: registered nurses. … ‘There [are] people in the streets angry about economic inequality, and angry about what Wall Street has gotten away with,’ said Lisa Donner, executive director of Americans for Financial Reform, which supports both bills.
Dave Clarke (Reuters)
“The Volcker rule has created a new battlefield over Wall Street pay that banks fear will send their star traders and hedge fund advisers fleeing. … ‘The question is whether just saying that compensation arrangements cannot encourage proprietary risk taking is enough or whether they have to be more specific,’ said Marcus Stanley, policy director for the group Americans for Financial Reform.”
Ryan Grim (Huffington Post)
“Boosted by the Occupy Wall Street movement, two Democrats in the House and Senate are renewing a push for a transaction tax on speculative trades. … Americans for Financial Reform, a coalition of progressive and labor organizations focused on reforming Wall Street, threw its weight behind the tax in a letter to the super committee:”
Click here to view this week’s highlights and lowlights in Wall Street Reform – October 22, 2011 – October 28, 2011.
Today, Americans for Financial Reform sent a letter to President Obama and Secretary Geithner requesting that they “urge the Joint Select Committee on Deficit Reduction to examine a small levy on financial speculation as a revenue-raising measure.”
AFR sent a letter to President Obama and Secretary Geithner asking that they urge the Super Committee to support a financial transaction tax.
AFR and Consumer Federation of America sent a letter to congress opposing weakening of Sarbanes-Oxley protections against accounting fraud.