This continuing resolution does not give the Commodity Futures Trading Commission and the Securities and Exchange Commission all of the resources they need, but we are very pleased that the President and Congress fought to keep Wall Street reform on track and resisted efforts to starve them of the funds necessary to police the rules of the financial market.
Read the pdf here. April 13th, 2011 Dear Representative, The record of lawbreaking and abuse by the largest banks and servicers at every stage of the mortgage origination, securitization, servicing and foreclosure process is breathtaking, and the damage done – to homeowners, communities, investors, pension
Since Congress largely deregulated consumer deposit (checking and savings) accounts beginning in the early 1980s, the PIRGs have tracked bank deposit account fee changes and documented the banks’ long-term strategy to raise fees, invent new fees and make it harder to avoid fees.
A key objective of Title VII of the Dodd-Frank Act (DFA) is to create transparency in previously unregulated derivatives markets. Indeed, the transparency goal is apparent in the short title of the section – ―The Wall Street Transparency and Accountability Act‖. Transparency is a critical goal across the entire Dodd-Frank Act, and is mentioned in the overall purpose statement of the legislation.
The undersigned national labor, civil rights, consumer and community organizations call on you to withdraw the proposed consent orders issued to the nation’s mortgage servicers and to work with the state Attorneys General and United States Department of Justice to obtain a joint settlement that addresses illegal servicing practices in a meaningful manner.
View the PDF Version Here Mr. Chairman Capito, Ranking Member Maloney, Members of the Subcommittee: My name is Adam Levitin, and I am an Associate Professor of Law at the Georgetown University Law Center in Washington, D.C., where I teach courses consumer finance, contracts, and
Read the PDF Version Here “LEGISLATIVE PROPOSALS TO IMPROVE THE STRUCTURE OF THE CONSUMER FINANCIAL PROTECTION BUREAU” April 6, 2011 Good morning, Chairwoman Capito, Ranking Member Maloney, and so many of my good friends here on the Subcommittee. It is a pleasure and an honor
Republican lawmakers should stand down in their efforts to delay and obstruct the shaping of the Consumer Financial Protection Bureau, which if properly implemented will go down in history as the most significant and innovative change to come out of the Dodd-Frank financial reform law.
Read the PDF Version Here AFR Statement on House Financial Services Subcommittee Hearing on Proposals To Weaken CFPB Washington, DC – Americans for Financial Reform, a coalition of more than 250 national and state organizations working together for strong Wall Street reform, issued the following
Incredibly, last week, in a letter to Professor Elizabeth Warren, House Financial Services Committee chairman Spencer Bachus (R-AL), along with key subcommittee chair Shelley Moore Capito (R-WV), all but accused Professor Elizabeth Warren of lying to Congress in her recent, excellent testimony on the work of the Consumer Financial Protection Bureau Implementation team.