The New York Times ran this prescient editorial in yesterday’s paper. Here’s an excerpt: Another day, another test of Congress’s will to reform the financial system. The Investor Protection Act of 2009, which faces final votes on Wednesday in the House Financial Services Committee, would
Forty Attorneys General sent this letter (PDF) to Congress regarding the Consumer Financial Protection Agency. The AGs argued that the CFPA should not limit the states’ role in consumer protection. Excerpt: Rather than limiting the states’ role in consumer financial protection as some have advocated,
Unions, Activists Unite on Reforms By Anna Palmer Roll Call Staff Nov. 4, 2009, 12 a.m. Watch out, banking lobbyists. Americans for Financial Reform believes it has your number.
On November 3, 2009, this letter was sent from public pension funds to House Financial Services Committee Chairman Barney Frank in support of the Waters-Peters Amendment to the Investor Protection Act of 2009. Click here for the letter.
November 3, 2009 Don’t Be Fooled: Revised Adler SOX 404 Amendment Is Bad for Investors and Bad for the Economy Dear House Financial Services Committee Member: We understand that Congressman Adler plans to offer a revised amendment to weaken protections against accounting fraud at smaller
Download this information as a PDF. Provided by the Consumer Federation of America Over the years, many smaller banks and thrifts have adopted responsible, fair and sustainable mortgage lending practices. Small banks and thrifts that offer trustworthy credit and payment products should face a lower
Dear House Financial Services Committee Member: As you continue consideration of the Investor Protection Act this week, decisions you make on pending roll call votes will determine whether this legislation lives up to its name. Unfortunately, several of the bill’s central provisions have already been
By Jennifer Liberto. Excerpt: WASHINGTON (CNNMoney.com) — As Congress starts debating how to deal with financial firms deemed “too big too fail,” some lawmakers and advocates are worried about giving the executive branch expansive new powers over the financial sector. “Mr. Secretary, I’m not a
Oct. 30 (Bloomberg) — In Washington and on Main Street, politicians and voters are railing against Wall Street’s multi- million-dollar pay packages. In the financial world, most executives expect their bonuses to match or exceed last year’s, with 1 in 10 predicting their best-ever payout.
Are you furious? If not, you should be. The giant financial institutions that make up Wall Street have been bailed out, thanks to trillions of dollars of our money, and are on track to hand out record-breaking multibillion-dollar bonuses while millions of regular folks are