Tag Archives: Volcker Rule

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AFR Opposes HR 4167

AFR sent a letter to members of Congress, urging them to oppose HR 4167. If enacted, this legislation would advance the interests of a few Wall Street mega-banks in weakening implementation of the Volcker Rule ban on proprietary trading.

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AFR Letter Opposes HR 4167 – Do Not Create Loopholes in Volcker Rule Risk Protection

AFR sent a letter to members of Congress, urging them to oppose HR 4167, which would exempt almost all collateralized loan obligations issued before January 14th from Volcker rule restrictions on bank sponsorship of external funds, allowing banks to continue to hold these instruments. Because managers of CLOs can buy and sell assets this would create a major loophole in Volcker rule prohibitions on proprietary trading.

Forward March: A Better-than-Expected Year in the Fight for Financial Reform

“Though small compared to Wall Street and the right, groups like Americans for Financial Reform and Better Markets show up extensively in the comments on the Volcker Rule. In the final rule, there are hundreds of references to the detailed comment letter the Occupy the SEC group sent…” The work of these outside groups “is a major piece of what makes solid final rules happen.”

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AFR Statement on Final Approval of Volcker Rule

“After years of consideration, the five agencies charged with implementing the Volcker Rule have reached agreement. This is an important step forward in financial reform. The final rule reflects hard work by champions of the rule within the regulatory agencies, the Administration, Congress, and the public-interest community… [But] today’s approval is only one step toward realizing the promise of the Volcker Rule.”