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AFR in the News: Critics Say Spending Bill Includes a Bonanza for Wall Street (NBC TV)

Marcus Stanley, policy director for Americans for Financial Reform, which advocates for tighter regulation of Wall Street, said the big winners would be three large banks — Citigroup, JPMorgan Chase and Bank of America. “These derivatives markets are very lucrative,” Stanley said in an interview Friday. “And that safety net subsidy, that deposit insurance subsidy, gives you a very large advantage. There’s a lot of money involved in this.”

AFR in the News: Banking on Influence (Slate)

“Rep. Shelley Moore Capito wants West Virginians to know she’s a defender of community banks… Capito, who chairs the subcommittee that oversees consumer lending and finance companies, is married to a banker who has worked for Wells Fargo and Citigroup. ‘One characteristic of her bills is that they do include community banks, but they would also help much larger banks,’ said Marcus Stanley, policy director at Americans for Financial Reform…”

AFR in the News: Inside the NY Federal Reserve (BBC)

“There are really two elements to this story,” Marcus Stanley of Americans for Finance Reform said. “One is the internal Federal Reserve self-evaluation… that did say that Federal Reserve supervisors tended to be overly deferential to the banks that they supervise [and] tended to be reluctant to take action and reluctant to raise strong criticisms. And then… you get these tapes made by Carmen Segarra which appear to show this exact sort of deferential behavior.”

AFR in the News: Court Ruling Strengthens Swap Rules Overseas (Bloomberg)

“Marcus Stanley, policy director for Americans for Financial Reform, a coalition including the AFL-CIO labor federation, said the decision should bolster the agency’s efforts to curb recent steps by Wall Street to escape Dodd-Frank by shifting their overseas trading operations. ‘I really hope that this decision is going to stiffen the CFTC’s backbone,’ Stanley said in a phone interview.”

AFR in the News: Regulators Propose Rule to Reduce Risk of Derivatives (NY Times)

“’This is a really important rule,’” said Marcus Stanley, policy director at Americans for Financial Reform. ‘Margin is the first line of defense in the derivatives market.’ The regulators made the changes to bring American margin rules in line with new international ones approved in 2013, and in response to public comments.

“’While it has taken us some time to get to this point, today’s action does represent significant progress,’ Thomas J. Curry, the comptroller of the currency, said in a statement.”

AFR in the News: U.S. Bank Bonus Curb Hit by Regulatory Squabble (Financial Times)

Americans for Financial Reform, Gina Chon of the Financial Times reports, “will soon send a letter to the agencies – it will also be circulated among lawmakers – urging them to finalise the proposal and strengthen it by not leaving implementation up to a bank’s board or management.” The article quotes AFR’s Marcus Stanley, who describes the executive-compensation provision as “one of the major pieces of unfinished business in Dodd-Frank.”

AFR in the News: Banks Push to Delay Rule on Investments (Wall Street Journal)

“Banks are pressing U.S. policy makers for a multiyear delay of a rule requiring them to sell investments in private-equity and venture-capital funds…,” the Journal reports. The article goes on to cite critics of the calls for delay, including AFR’s Marcus Stanley. “This is supposed to be a regulatory option in special circumstances,” he told the Journal. “It’s not supposed to be an automatic permission for every bank to get a 12-year period after passage of Dodd-Frank to divest from venture funds.”

AFR and Cato Institute Call on Federal Reserve to Institute Limits on Emergency Lending

In a joint editorial, Americans for Financial Reform and the Cato Institute criticize the Federal Reserve for not properly implementing new statutory limits on emergency lending programs, to prevent their use in future bank bailouts. “It is impossible to read the proposal and see how it limits Federal Reserve discretion,” say AFR’s Marcus Stanley and Cato’s Mark Calabria. “With the exception of a few actions aimed at single institutions, it appears that the actions taken in 2008, which so angered the public would still be feasible under the proposed rule.”

AFR in the News: Ignore the Naysayers – Dodd-Frank Reforms Are Finally Paying Off

“This past year has seen significant advances on key issues of financial reform,” Mike Konczal writes in The New Republic, and “the issues where regulators are reluctant to take strong action are becoming increasingly apparent.” His article goes on to quote AFR Policy Director Marcus Stanley on the failure to “ban incentive pay that encourages inappropriate risk-taking, impose appropriate limits on the Federal Reserve’s emergency lending powers, bring real accountability to the credit rating agencies, and simplify the structure of global Wall Street mega-banks to ensure that they can be resolved safely.”

AFR in the News: Wall Street Defends Overseas Swap Trading From U.S. Regulation

““We had been warning for years about this loophole in the CFTC’s cross-border guidance,” Marcus Stanley, policy director for American for Financial Reform, told Bloomberg’s Silla Brush. “Now the CFTC seems to be letting it become an exit-ramp from Dodd-Frank.”