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Americans for Financial Reform

Financial Firms Fight to Protect their Right to Profit at Customers' Expense

Barbara Roper | Posted 04.07.2015 | Business
Barbara Roper

Ever since the Department of Labor proposed several years ago to close regulatory loopholes that allow financial firms to offer conflicted retirement advice without having to act in the best interests of the retirement savers who rely on that advice, financial services firms have been nearly apoplectic in their opposition.

600,000 Signatures for Glass-Steagall

Lisa Donner | Posted 09.29.2014 | Politics
Lisa Donner

For over half a century, the Depression-era law known as Glass-Steagall kept traditional banks separate from the high-risk world of investment banks and hedge funds.

Watt Now? (Or, Can Mel Watt Fix the Housing Crisis?)

Peter Dreier | Posted 02.12.2014 | Politics
Peter Dreier

News coverage of the Senate's confirmation of Congressman Mel Watt on Tuesday to head the Federal Housing Finance Agency (FHFA) was all about politics, not the housing or banking issues he now has to address.

In the Public Interest: Senator McConnell Says We Shouldn't Have a CFPB At All

Ed Mierzwinski | Posted 06.22.2013 | Business
Ed Mierzwinski

What are some of the protections we wouldn't have at all, if Senator McConnell and Wall Street have their way and we didn't have a Consumer Financial Protection Bureau at all?

JOBS Act Rule Poses Early Test of SEC Chairman Walter's Leadership

Barbara Roper | Posted 03.04.2013 | Politics
Barbara Roper

She now has an opportunity to show that she also has the strength of character to lead this often-fractious agency in these difficult and challenging times. Nothing less than the safety and integrity of our capital markets depend on the choices she makes.

What Makes You Madder: JPMorgan's Recklessness or the Fed's Cluelessness?

Jane White | Posted 07.16.2012 | Business
Jane White

We not only need to rein the banks in but we've got to delegate the responsibility for measuring household wealth -- and hopefully come up with ways to boost it -- to an agency that's more in touch with "the 99%."

CFTC's Message to Municipalities: Caveat Emptor

Barbara Roper | Posted 03.27.2012 | Business
Barbara Roper

In a little noticed vote, the Commodity Futures Trading Commission reversed course last week on a rule that had the potential to save cities and school districts across the country billions in excess costs on the swaps they purchase to hedge their interest rate and other risks.

President's Recess Appointment of Cordray Gives Watchdog Teeth It Needs

Ed Mierzwinski | Posted 03.09.2012 | Business
Ed Mierzwinski

Kudos to President Obama for standing up for consumers this week by making a recess appointment of Richard Cordray to head the new Consumer Financial Protection Bureau.

Bank Reform Groups Celebrate Final Passage

Mary Bottari | Posted 05.25.2011 | Politics
Mary Bottari

After a classic David and Goliath showdown between Wall Street might and a small band of reformers, a 2,000 page Wall Street reform bill passed the U....

V-I-C-T-O-R-Y !!!

Heather Booth | Posted 05.25.2011 | Politics
Heather Booth

Nearly two years after the reckless behavior of the Big Banks took our economy to the edge of the abyss and cost 8 million Americans their jobs, Congr...

Big Victory in the House, but Big Fight Remains

Heather Booth | Posted 05.25.2011 | Politics
Heather Booth

We are close to winning passage of reforms that will keep billions of dollars in consumer's pockets and begin the reversal of decades of deregulation. We can't lose momentum now.

When the public is watching, the Senate is forced to side with Main Street over Wall Street

Heather Booth | Posted 05.25.2011 | Politics
Heather Booth

Yesterday, after blocking three votes, Republicans relented, and allowed public debate and amendments to proceed to the full Senate on Wall Street ref...

Showdown on Wall Street and K Street

Peter Dreier | Posted 05.25.2011 | Politics
Peter Dreier

Organizers believe that the recent victory on health care reform will help propel a similar movement to take on banking giants.

Financial Reform: The Feingold Factor

TPMDC | Brian Beutler | Posted 05.25.2011 | Business

Progressive backers of financial reform are pushing Sen. Russ Feingold (D-WI) to reconsider his protest vote against imposing tougher rules on Wall St...

A Tax Day Protest We Can All Get Behind

Mary Bottari | Posted 05.25.2011 | Business
Mary Bottari

Big bankers know how to dodge taxes on their earnings and bonuses leaving middle class Americans holding the bag. The solution? It's time to take it back.

Bankers Swarm Capitol Hill Because They Love You

Heather Booth | Posted 05.25.2011 | Politics
Heather Booth

With the bankers all over Capitol Hill advocating for these reforms, it is entirely unnecessary that anyone else do so. There is no need to find out more about the bill, or to contact your congressman.

Arthur Delaney

Lobbyists Opposed To Derivatives Reform Outnumber Reform Lobbyists 11 To 1: Report | Arthur Delaney | Posted 05.25.2011 | Politics

Lobbyists for the financial services industry opposed to an overhaul of the derivatives market outnumber pro-reform lobbyists 11 to one since the begi...

Shahien Nasiripour

Major Loophole In Senate Financial Reform Bill, Derivatives Reform May Be Illusory | Shahien Nasiripour | Posted 05.25.2011 | Business

The pending financial reform bill in the Senate may not accomplish President Barack Obama's goal of reforming the unregulated derivatives market, pote...

The Two Rules of Real Financial Reform

Heather Booth | Posted 05.25.2011 | Politics
Heather Booth

The first rule of real financial reform is that you can't stop fighting for it. The second rule of real financial reform is that you CAN'T STOP fight...

Bipartisanship Is Not a Substitute for Real Reform

Heather Booth | Posted 05.25.2011 | Politics
Heather Booth

Dodd is expected to release the financial reform bill this week. Since legislation usually doesn't get any better after it is introduced, if we are going to get a strong, independent Consumer Financial Protection Agency, we have to act now.

Ryan Grim

SNL 'Presidents' Reunite For Video Pushing Wall Street Reform (WATCH) | Ryan Grim | Posted 05.25.2011 | Politics

Will Ferrell, Fred Armisen, Chevy Chase, Dan Aykroyd, Dana Carvey and Darrell Hammond, the Saturday Night Live actors who have played every American ...

The Greed Olympics: Banks and Insurers Battle for the Gold

Peter Dreier | Posted 05.25.2011 | Business
Peter Dreier

As the Greed Olympics heats up, it is time for Americans to stop being spectators. The President and Congress shouldn't be the only ones judging the competition and handing out the medals.

Taking it to the Streets! Time for Massive Demonstrations for Jobs and Financial Reform

Miles Mogulescu | Posted 05.25.2011 | Politics
Miles Mogulescu

This is a call for a mass mobilization -- a Million Person March -- to demand jobs and real financial reform.

Shahien Nasiripour

Dodd To Push For Independent Consumer Financial Protection Agency | Shahien Nasiripour | Posted 05.25.2011 | Business

This post has been updated. Please see below. The financial regulatory reform bill that emerges from a key Senate committee will likely call for an a...

Beware Frank Luntz's Lies and Rein in the Big Banks!

Heather Booth | Posted 05.25.2011 | Politics
Heather Booth

Frank Luntz, pollster to the right wing and Wall Street agenda, has written a 17-page memo on how to talk about financial reform in order to destroy it.