AFREF sent a roadmap for action to the Federal Reserve.
Letters to Regulators: Letter in Response to the Federal Reserve’s RFI on a Central Bank Digital Currency
AFREF and Demand Progress submitted a letter in response to the Federal Reserve’s Request for Information on a Central Bank Digital Currency (CBDC). In the submission, we urge the Fed to consider privacy and fraud protection, and also point to other alternatives to CBDC the Fed could pursue to promote broader financial inclusion.
Letters to Regulators: Comments to the Federal Reserve on Firms’ Eligibility to Gain Access to Privileged Fed Reserve Accounts and Services
AFREF sent a comment letter to the Federal Reserve on firms’ eligibility to gain access to privileged Fed Reserve accounts and services.
News Release: The President’s Annual Budget Includes Critical Proposals That Would Pave the Way for a Just and Sustainable Economy
This morning, the Biden administration unveiled its annual budget, which includes a tax on households with wealth over $100 million, a 1% tax on stock buybacks, and a proposal for a three-year freeze on corporate executives selling their shares after a buyback.
Letters to Congress: Letter in Strong Support of the Nominations of Lisa Cook, Sarah Bloom Raskin, and Philip Jefferson to the Federal Reserve Board of Governors
AFR and Public Citizen led a letter to Congress in strong support of the nominations of Lisa Cook, Sarah
Bloom Raskin, and Philip Jefferson to the Federal Reserve Board of Governors.
President Biden’s renomination of Jerome Powell to chair the Federal Reserve Board is a major disappointment to those of us who have fought for tougher regulation of Wall Street as a key tool for protecting financial stability and building a more just and sustainable economy.
The Federal Reserve has announced the results of its 2021 bank stress tests. Since then, these results have led a steady parade of the largest banks in the country to announce dramatic increases in dividends. The stress tests will also enable greater share buybacks and other capital distributions by banks. This will enrich senior executives and large shareholders, while putting financial stability at risk.
Letters to Regulators: Americans for Financial Reform Education Fund letter opposing banking regulators weakening big banks’ resolution planning requirements
Americans for Financial Reform Education Fund sent a letter to banking regulators opposing a proposal that would make the resolution planning process substantially less stringent than it currently is, and raising concerns over the safety and soundness of individual banks and the effect on U.S. financial stability.
Letters to Regulators: Bank regulators should not weaken prudential rules for U.S. operations of foreign banks.
Regulatory agencies purport to “tailor” prudential rules, but they are severely undermining capital and liquidity requirements for foreign banks operating in the U.S.
Letters to Congress: Protect the U.S. Economy — Vote For Sen. Brown Amendment No. 2080 on Foreign Banks
AFR supports Sen. Brown’s amendment that would guarantee that enhanced prudential safeguards remain in place at the U.S. operations of foreign mega-banks.