Dodd-Frank Archives - Page 9 of 17 - Americans for Financial Reform

AFR Briefing: Bond Market Liquidity, Regulation, and the Public Interest

Recent months have seen increasing claims by some industry participants and their allies that new regulations are negatively impacting bond market liquidity in ways that may harm the economy. What is the truth of these claims? Is there in fact a serious problem with bond market liquidity? Are recent market events such as the October 15th Treasury market disruption related to new regulation, or to other market changes such as increases in electronic trading? How should regulators respond?

AFR Statement: Heading Back Down the Path of Financial Deregulation

“With the package of bills it has scheduled for markup today, the House Financial Services Committee is threatening to take America back down the road of Wall Street deregulation — the road that led to the financial and economic calamity of 2008-09. While these measures deal with a range of financial practices and entities, most of them have a common theme: in one way or another, they would make it easier for banks, lending companies and other inside players to take advantage of consumers, homeowners, or taxpayers.”

AFR Statement: Sneak Attack on Financial Reform

“A funding measure approved by the Senate Appropriations Committee yesterday contains an outrageous sneak attack on the Consumer Financial Protection Bureau and the reforms of the Dodd-Frank Act. The FY2016 Financial Services and General Government Appropriations bill incorporates the entirety of a 229-page financial deregulation bill – one that had been rejected by every Democrat on the Banking Committee, the proper venue for such legislation.”

AFR in the News: Dodd-Frank is Not Perfect but a Boon for Consumers and Economy (Philadelphia Inquirer & other papers)

“The financial system that pushed the U.S. economy to the edge of collapse in 2008 was a doubly rigged game. It was set up to inflate the profits of banks and insiders twice over—first through products designed to bilk consumers and investors, and second through massive speculation, with taxpayers ultimately paying for the bets that went bad. It was a dishonest system and a dangerous one, and while Dodd-Frank was not a complete fix for either problem, it has made progress on both.”

Elizabeth Warren Video: The Story of Dodd-Frank

AFR Conference: Looking Back, and Ahead, on the Fifth Anniversary of the Dodd-Frank Act

Senators Sherrod Brown and Elizabeth Warren joined regulators and experts for a discussion of the progress made, and the work yet to be done, in building a financial system that is safer and fairer and does a better job of serving the real economy and the country as a whole.

AFR Statement: Appropriations Bill Is Backdoor Financial Deregulation

“In addition to [a] dangerous and highly partisan rollback of financial regulations, the legislation takes aim at the Consumer Financial Protection Bureau, despite, or perhaps because of, the fact that is succeeding at its job of making the consumer finance markets safer and fairer. The appropriations bill contains policy riders that would dramatically weaken the CFPB by making it the only bank regulator which does not have independent funding, and by replacing the CFPB’s single director with a five-member commission – a known recipe for gridlock.”

AFR in the News: Elizabeth Warren says passing Dodd-Frank was like David beating Goliath (Business Insider)

“Senator Elizabeth Warren (D-Mass.) spoke about the Dodd-Frank financial reform act in an interview with Americans for Financial Reform, an advocacy group. ‘David can beat Goliath – that’s the meaning of Dodd-Frank,’ said the senator, who was a founding member of the Consumer Financial Protection Bureau, established under the act. ‘We built Dodd-Frank with the biggest, most powerful institutions fighting us every inch of the way.'”

AFR/CRL Poll: National Survey by Lake Research Finds Continued Strong Support for Financial Regulation

A new Lake Research poll, commissioned by Americans for Financial Reform and the Center for Responsible Lending, finds strong, continued, bipartisan support for government regulation of financial services and products. In marked contrast to the typical trendline of public opinion after a disaster, this is

AFR Statement: The Case for the “21st Century Glass Steagall Act” Is Stronger than Ever

Senators Elizabeth Warren (D-Mass.), John McCain (R-Ariz.), Maria Cantwell (D-Wash.), and Angus King (I.-Me.) have reintroduced their “21st Century Glass-Steagall Act,” which would restore the historic division between traditional (or commercial) banking world and the casino world of trading and speculating. Five years after passage of the Dodd-Frank Act, the case for this bipartisan legislation is stronger than ever.