Dodd-Frank Archives - Page 5 of 17 - Americans for Financial Reform

Alexis Goldstein appears on CNN with Brooke Baldwin appear on CNN (screen grab)

AFR in the News: Trump’s Tax Plan Slashes Taxes for Big Banks, is a Disaster for American workers (CNN)

AFR’s Senior Policy Analyst Alexis Goldstein appeared on CNN Newsroom with Brooke Baldwin on Wednesday, April 26th to discuss how the Trump Administration’s tax plan would benefit Wall Street and leave ordinary American workers behind. “We have two former bankers from Goldman Sachs announcing a tax plan that–from the details that we do know–will dramatically cut taxes for big banks like Goldman Sachs,” Goldstein said.

Letter to Congress: 79 Organizations Urge Opposition to the CHOICE Act

“…This legislation would be better dubbed ‘Wall Street’s CHOICE Act’, as it would have a devastating effect on the capacity of regulators to protect the public interest and defend consumers and investors from Wall Street wrongdoing… This nearly 600-page bill is a radical piece of legislation…”

Letter to Congress: Oppose Wall Street’s CHOICE Act–Devastating to Financial Protections

“…We are writing to express our opposition to the “Financial CHOICE Act” and to urge you to oppose this measure. This legislation would be better dubbed “Wall Street’s CHOICE Act,” as it would have a devastating effect on the ability of regulators to protect consumers and investors from Wall Street exploitation and the economy from financial risks created by too-big-to-fail megabanks. It would expose consumers, investors, and the public to greatly heightened risk of abuse in their regular dealings with the financial system, and our economy as a whole to a far greater risk of instability and crisis. “

AFR in the News: Trump Vows to Unveil Tax Plan (NY Times)

“As business groups cheered [deregulation] moves, some skeptics were left questioning whether Mr. Trump was keeping his campaign promises to give working-class Americans a higher priority than Wall Street bankers. ‘From our perspective, it is a direction that is dramatically backwards on financial stability,’ said Lisa Donner, executive director of Americans for Financial Reform.’”

AFR in the News: GOP plan to erase Wall Street rules is more generous than even banks asked for (Washington Post)

“Democrats have already promised to fight attempts to weaken the [CFPB’s] powers. ‘We would have a muzzled watchdog at best,’ said Brian Simmonds Marshall, policy counsel for Americans for Financial Reform, a coalition of more than 200 civil rights, consumer- and labor-oriented community groups. ‘You would have an agency that did not have the authorities it needs to protect consumers.’”

AFR in the News: GOP would give Trump power over Wall Street regulation (CNN Money)

“‘This latest bill will wind up making regulators weaker than they were before the crisis,’ Marcus Stanley [of] Americans for Financial Reform… told CNNMoney. ‘It’s definitely a shift toward empowering the White House to micromanage consumer protections and enforcement actions.'”

AFR Statement: Hensarling’s New Deregulation Bill Is Worse than the Old One

“Rep. Hensarling’s revisions to his Wall Street’s CHOICE Act will make a disastrous bill even worse…This legislation doesn’t just repeal huge swaths of the Dodd-Frank Act – it makes regulators even weaker than they were before the financial crisis.”

AFR Policy Brief: FDIC Report Contradicts Claims That Regulation Has Harmed Lending, Bank Earnings

“Hard data on bank earnings and lending should lay to rest any notion that financial regulations are holding back the American economy, or getting in the way of American banks making money. These claims are just an excuse to to dismantle hard-won protections for consumers and financial stability.”

AFR Statement: Trump Hands Financial Regulation Over To Wall Street

We can, and will, fight at every step against Wall Street burning it all down — again. And we’ll fight for a financial system that serves an economy that works for the rest of us.

AFR IN THE NEWS: Trump Begins Assault on Dodd-Frank Financial Regulations (NY Times)

“‘The administration apparently plans to turn over financial regulation to Wall Street titan Goldman Sachs, and make it easier for them and other big banks like Wells Fargo to steal from their customers and destabilize the economy,’ said Lisa Donner, executive director of Americans for Financial Reform, an advocacy group that supports Dodd-Frank. ‘That betrays the promises Trump made to stand up to Wall Street, and it will have dire consequences if he’s successful.’”