Americans for Financial Reform

AFR Comments on Proposal to Reopen Derivatives Regulations

AFR submitted a comment in response to the CFTC’s request for views on their overall proposed structure for regulating swaps and derivatives. The comment raised several issues concerning conflicts of interest in ownership and management of key areas of derivatives infrastructure, like clearinghouses and swaps data repositories. AFR also raised potential problems with definitions of “commercial risk” that could permit evasion of regulations.

For Mortgage Defaulters, More Loans for the Taking

For Mortgage Defaulters, More Loans for the Taking Annamaria Andriotis (Smart Money) June 1, 2011 “After years of turning down all but the best borrowers, banks and other lenders are now extending credit to a surprising group of customers: former homeowners who defaulted on their

The Bank Lobby Steps Up Its Attack on Elizabeth Warren

The Bank Lobby Steps Up Its Attack on Elizabeth Warren Ari Berman (The Nation) June 1, 2011 “On May 24 Elizabeth Warren was back on Capitol Hill testifying before Congress, defending her brainchild, the new Consumer Financial Protection Bureau, a key element of the 2010

AFR Calls for Strengthening in Oversight Rules

AFR submitted a comment letter to the banking oversight agencies on proposed rules to change pay practices at big banks. The rules include a number of proposals, including mandatory deferral of some compensation, intended to ensure that Wall Street executives are financially accountable for the long-term consequences of their actions. The letter commended a number of positive steps taken in the proposal, but made the case that the deferral and oversight rules would have to be strengthened to fully address the problem.

AFR Statement on Markup of FY 2012 Agriculture Budget

FOR IMMEDIATE RELEASE May 31, 2011 CONTACT: John Carey at 202-466-1854 john@ourfinancialsecurity.org AFR Statement on Markup of FY 2012 Agriculture Budget Washington, DC – Americans for Financial Reform, a coalition of more than 250 national and state organizations working together for strong Wall Street reform,

AFR on Implementation of the Freedom of Information Act (FOIA)

AFR submitted a comment letter calling on the FSOC to change its proposed rules for Freedom of Information Act (FOIA) requests to better ensure the public’s access to information from financial regulators.

AFR on Establishing the Systemic Importance of Financial Market Institutions

AFR submitted a comment letter on the FSOC’s rule establishing standards for the designation of Financial Market Utilities (FMUs). The letter generally agreed with the broad designation standards, but called on the FSOC to rapidly designate key existing FMUs for enhanced prudential oversight.

AFR Bulletin: Key Rules on Executive Pay and Derivatives Regulation

Read the bulletin here.

OCC Again Chooses Interests of Banks Over Consumers and States Consumer, Civil Rights Groups Attack New Proposed Rule Preempting State Consumer Protection Laws

For Immediate Release: May 26, 2011 Contacts: NCLC: Lauren Saunders, 202-452-6252 ext. 105; lsaunders@nclc.org; AFR: John Carey, 202-466-3311; john@financialsecurity.org OCC Again Chooses Interests of Banks Over Consumers and States Consumer, Civil Rights Groups Attack New Proposed Rule Preempting State Consumer Protection Laws Washington, DC−A broad

Access to Consumer Complaints Ensures Accountability

Read the group letter signed by AFR and other consumer and civil rights groups to the CFPB here.