Wall Street Archives - Page 11 of 17 - Americans for Financial Reform

AFR/CFA Memo: SEC Broker Standards Proposal Falls Far Short

Brokers too often steer investors into poorly performing, high-cost investments that are profitable for the broker, but bad for individual investors. The Securities and Exchange Commission has proposed a new regulation that purports to address the problem, but its remedy is too vague and too weak. By creating a veneer of protection, but not the reality, it would deliver a false sense of security that could leave investors worse off than they are now.

Joint Letter: SEC Broker Proposal Fails To Establish Strong Standard or Mitigate Conflicts

The rule’s most significant failing is that it does not establish a clear uniform best interest standard, one that is no less stringent than that found in the Investment Advisers’ Act, for all professionals who provide investment advice to retail clients. Instead, it adopts a weaker standard for broker-dealers that falls short of a true best interest standard and does not adequately address the conflicts of interest that too often are permitted to taint broker-dealers’ recommendations.

AFR/CRL Poll Shows Wide Discontent With Mulvaney Path at CFPB

Voters of all political parties overwhelmingly oppose the actions taken by Mick Mulvaney to undermine the mission of the Consumer Financial Protection Bureau and feel a strong connection between lax enforcement of the rules on Wall Street and their daily welfare. Ten years after the 2008 financial crisis brought on a searing recession, the survey revealed enduring, strong, and bipartisan support for tougher regulation of Wall Street and predatory lenders.

AFR Conference: Regulating Wall Street Ten years Later

On July 24, Americans for Financial reform hosted a conference looking back at the response to the 2008 crisis, and towards future efforts to ensure that the financial system is more stable, and fair for all. Click here to access the agenda, video, and (soon) the transcript

AFR Statement: Eight Years of Dodd-Frank, Ten Years After 2008 Financial Crisis

Nearly a decade after the crisis broke, we need the public interest, not Wall Street’s narrow pursuit of maximum benefits for a tiny few to guide financial policy. But Wall Street’s money is an enormously powerful force pushing the other way.

AFR Conference: Regulating Wall Street – Ten Years Later

Ten Years after the 2008 Financial Crisis, Where Do We Stand? A conference with Sens. Sherrod Brown and Elizabeth Warren and regulators who helped respond.

AFR Statement: Proposal to Overhaul Volcker Rule Would Unravel Key Response to Financial Crisis

This proposal is no minor set of technical tweaks to the Volcker Rule, but an attempt to unravel fundamental elements of the response to the 2008 financial crisis, when banks financed their gambling with taxpayer-insured deposits. If implemented, these proposals could turn the Volcker Rule into a dead letter, a regulation that would not meaningfully restrict trading activities.

Joint Letter: Nominate Progressive Candidates to Financial Regulators

The need for strong public interest nominees is even greater today. This Administration has been
filling key regulatory positions with people pursuing Wall Street’s agenda at the public’s expense,
and the revolving door is spinning faster than ever. There is an enormous amount at stake at both
the SEC and FDIC as the financial industry and their friends in the Trump administration work to
undo the progress made in Dodd-Frank and to undermine key investor protection standards.

AFR Statement: S. 2155 Ignores Lessons of Financial Crisis, Flouts Will of Voters

This legislation ignores the lessons of the financial crisis that cost so many Americans their jobs and homes, and pays no heed to the overwhelming majority of voters who correctly understand the need for tougher, not weaker, oversight of the financial services industry.

AFR Statement: Wall Street Money Hits $719 Million in 2017, Headed Past $2 Billion in this Election Cycle

Wall Street pumped $719 million into the political process in 2017, a rate that puts it on pace to outstrip the record $2 billion it spent during the 2015-2016 campaign cycle, according to a new report by Americans for Financial Reform.