Affidavits from six former Bank of America employees say that the Bank required or incentivized employees to lie, falsify records, and more in order to deny borrowers loan modifications they were entitled to under the Home Affordable Mortgage Program (HAMP), pushing them into foreclosure or
AFR sent letters to members of the House and Senate urging them to support full funding for the CFTC. The CFTC’s role in regulating commodity markets is vital to overall financial stability and cannot do its job without this vital funding.
“Regulators have to get serious about implementing this law,” AFR policy director Marcus Stanley told the Washington Post. “The derivatives market is dominated by insured banks,” which means taxpayers would be on the hook if they ran into trouble, he said.
A Tool for Financial Stability & Economic Recovery Webinar Briefing Sponsored by: AFL-CIO | Americans for Financial Reform | Center for Economic and Policy Research Communications Workers of America | The Main Street Alliance | Public Citizen JUNE 10, 2013 12pm EDT. A Wall Street
AFR sent a letter to members of Congress urging them to oppose HR 1038. This legislation would make it easier for major dealers in the energy markets to avoid appropriate designation as swaps dealers, and would also remove important protections for public utilities in their swaps transactions.
AFR sent a letter and one pager regarding HR 1256, the “Swaps Jurisdiction Certainty Act” to members of Congress, urging them to oppose the bill. HR 1256 would severely undermine regulators ability to protect U.S. taxpayers from risks that arise from overseas derivatives trading.
Here’s a way to raise hundreds of billions of dollars, get Wall Street to shoulder more of the responsibility for America’s economic recovery, and curb the kind of dangerous high-frequency trading that puts the financial system at risk. A small tax on sales of stocks,