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One by one, the House Financial Services Committee has rubber-stamped industry approved bills that would weaken elements of Dodd-Frank designed to hem in risky derivatives trading.
Blog
Joseph Hines
A new report details how the failure to finalize rules harms the American people by compromising the safety of food, automobiles, workplaces and protections for investors.
Press release/statement
Imagine that you're trying to make an extremely complicated decision. You want to understand the facts and do the right thing. At one ear, you have someone -- perhaps a former colleague -- who whispers you highly detailed advice six times a day, cajoling and pleading. At the other ear, is someone
Blog
David Callahan
Progressive organizations in New York City and Washington, D.C. rail a good amount against big banks. But not enough of those organizations have cut themselves off from those "too-big-to-fail" institutions to join, say, the Amalgamated Bank (AB), a bank which does not have a history of scandals and
Blog
Thomas Hedges
Housing prices are coming back and consumers—feeling flush now that their home equity is rebounding—are more confident than they've been in four years. The American middle class is finally getting back on its feet after a half decade of trauma, right? Well, not exactly.
Blog
David Callahan
The Senate confirmation vote on Richard Cordray this week won’t have much to do with Richard Cordray.
Blog
Amy Traub
New rules to regulate derivatives, adopted last week by the Commodity Futures Trading Commission, are a victory for Wall Street and a setback for financial reform. They may also signal worse things to come.
In the media
The Editorial Board
With Jamie Dimon under growing fire from shareholders of JP Morgan Chase, one possibility is that he may relinquish his role as chairman of the board but remain as CEO. That raises an interesting question: Why does Dimon hold both jobs to begin with?
Blog
David Callahan
The banks have systematically figured out how to rip off the government,” Lerner says. Part of that ripoff was the LIBOR scandal, which had a “massive consequence on everything,” according to Wallace Turbeville, a former Goldman Sachs employee and current senior fellow at nonpartisan think tank
In the media
Sarah Jaffe
New Yorkers shut out of a job by employment credit checks spoke out and told their stories, expressing hope that New York City would build on its recent success banning discrimination against the unemployed in hiring to also put an end to credit discrimination.
Blog
Amy Traub