Read the pdf of our letter here. March 28th, 2011 Mr. David A. Stawick Secretary Commodity Futures Trading Commission Three Lafayette Center 1155 21st Street, N.W. Washington DC 20581 Re: RIN 3038–AD15 and 3038–AD16; Position Limits For Derivatives Dear Mr. Stawick: On behalf of Americans
AFR wrote a comment letter supporting the requirement in Section 953(b) of the Dodd-Frank Act that companies disclose to investors the ratio of CEO pay to the compensation of the typical employee at the company. Existing requirements mandate disclosure of top executive compensation only, encouraging companies to focus unduly on peer to peer comparisons when setting CEO pay. Disclosure of CEO-to-worker pay ratios will encourage Boards of Directors to also consider pay equity within firms, top-to-bottom and not just at the CEO level. This information will also be useful to investors who prioritize pay equity as part of their investment decision. Rep. Nan Hayworth (NY) has introduced a bill to repeal this section of Dodd-Frank.
March 27, 2011 Who Will Rescue Financial Reform? In what passes for self-restraint these days, House Republicans have been insisting that they do not intend to repeal last year’s Dodd-Frank financial reform law. Not in one fell swoop, anyway. A direct assault on Dodd-Frank would
The Expensive Swipe Fee Wars Eliza Newlin Carnery (National Journal) March 28, 2011 The Dodd-Frank financial reforms enacted last year have unleashed lobbying battles on several fronts, but none has been so pitched or costly as the fight over debit card swipe fees…. Progressive activists
Melissa Kress/CSNews.com Mar 25, 2011 Durbin Voices Opposition to Delay Tactics By Melissa Kress WASHINGTON — April 21 is the day the Federal Reserve is slated to release rules setting debit card swipe fees. But some lawmakers are not taking a wait-and-see-approach before trying to
The big Wall Street banks and their allies in Congress and in the media have launched an all out attack on the fledgling Consumer Financial Protection Bureau (CFPB). This new Consumer Bureau will be the first banking regulator with the sole job of standing up for consumers in the financial market place, starting on July 21, 2011.
As the country’s largest financial institutions spend hundreds of thousands of dollars trying to beat back debit card swipe fee reforms, Senator Durbin and a group of dedicated consumer advocates and small business owners will hold a press call TODAY at 2:15pm EST in order to highlight the broad support for the reforms.
For too long, the rules of Wall Street have been written by the bankers themselves. This year, that has to change. Americans for Fairness in Lending and Americans for Financial Reform are partnering to reform the nation’s lending industry and financial system. We’re working to protect
Testimony of Peter Skillern, Executive Director Community Reinvestment Association of North Carolina United States House of Representatives Financial Institutions and Consumer Credit Subcommittee Wednesday, March 3, 2011 Thank you Representative Capito and Representative Maloney for the opportunity to speak with you on the impact of
Damon Silvers, Policy Director and General Counsel at the AFL-CIO and member of the AFR Executive Committee, testified today before the House Subcommittee on Capital Markets and Government Sponsored Enterprises. Read his testimony here.