Volcker Rule Archives - Page 9 of 33 - Americans for Financial Reform

AFR in the News: Is it time to roll back US bank regulation? (Financial Times)

“The financial services industry pumped a record $2bn of campaign contributions into the political system in the two years leading up to the 2016 elections. And the flood of cash has continued, with a particular focus on senators whose votes will be decisive. The influence that money buys is creating a massive shift away from the moderate reforms made in and around Dodd-Frank, which were making the system safer and helping consumers and investors keep billions of dollars each year that an already profitable industry would otherwise siphon off.”

Letters to Congress: AFR Urges Opposition to HR 4296—A Bill Tying Regulators Hands in Setting Operational Risk Capital

AFR sent a letter urging House members to vote “No” on H.R. 4296—a bill that would tie regulators hands in setting operational risk capital.

AFR in the News: Rule letting U.S. dismantle giant banks in crisis should stay, Treasury Department advises (LA Times)

“Marcus Stanley, policy director for Americans for Financial Reform, said he was glad to see the authority embraced in the report, but alarmed by specifics of the bankruptcy recommendations that he said ‘would create special privileges for big banks, rely on unrealistic assumptions, and in their current form would likely increase risks to the financial system.'”

AFR in the News: Democrats need to stand with working Americans vs. big banks (Washington Post)

“Under current law, banks with more than $50 billion in assets are considered ‘systemically important financial institutions’ and therefore are subject to extra scrutiny. The Senate bill would lift that threshold to $250 billion, relaxing oversight of 25 of the 38 largest banks in the country. According to Americans for Financial Reform, those banks are collectively responsible for $3.5 trillion in assets and received nearly $50 billion in bailout money during the financial crisis.”

Letter to Congress: AFR urges opposition to HR 3312 — a deregulatory gift to the largest banks in the country.

“H.R. 3312 dramatically restricts oversight of some of the largest banks in the country, increasing risks to regional economies and to financial stability, and therefore to the prosperity of families and communities.”

Letter to Congress: Protect Shareholder Rights — Oppose HR 4015

AFR sent a letter opposing a bill that would eliminate the independent voice of proxy advisory firms and unfairly disadvantage shareholders as compared to firm management.

Testimony: AFR Policy Director Marcus Stanley Testifies to HFSC On Deregulatory Bills

AFR Policy Director Marcus Stanley testified to the Financial Institutions subcommittee of the House Financial Services Committee on five pieces of proposed legislation. Written Testimony: Marcus Stanley Testimony To House Financial Services FI Subcommittee December 7 2017 FINAL The full hearing is available here: https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=402730

Letter to Congress: AFR Opposes HR 477 — the misleadingly labeled “Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017″

Disguised as a regulatory relief for small businesses, this legislation would exempt from registration requirements merger and acquisition brokers of transactions involving quite large privately held companies, while opening a deregulatory window of opportunity for private equity firms to exploit.

Letter to Regulators: AFR Urges Federal Reserve To Increase Risk Controls on Cleared Derivatives

“On behalf of Americans for Financial Reform, we are writing to express our support for proposed changes…by the Federal Reserve Board of Governors… to the FR Y-15 systemic risk reporting form… regarding the treatment of cleared over-the-counter derivatives transactions.”

AFR Statement: Treasury Report on Systemic Risk Designation of Large Non-Banks

FOR IMMEDIATE RELEASE Nov. 20, 2017 CONTACT Carter Dougherty carter@ourfinancialsecurity.org (202) 251-6700 Treasury Memorandum Weakens Systemic Risk Supervision On Friday the Treasury Department released a memorandum on the process used by the Financial Stability Oversight Council (FSOC) to designate large systemically significant non-bank financial institutions