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Financial Reform
Americans For Financial Reform
The AFL-CIO is a member of Americans For Financial Reform (AFR), a coalition of over 100 organizations representing consumers, workers and investors. AFR is working to fix our financial sector and make sure the financial system works for everyone. On December 3, 2009 AFR released A Call to Action for Real Financial Services Reform that describes the major financial reforms that are needed.
Speeches and Testimony
- October 29, 2009 - In testimony before the House Financial Services Committee, AFL-CIO President Richard Trumka called for financial regulatory reform. He expressed support for the creation of a systemic risk regulator and emphasized that it needs to be a fully public body. He also called for reform of the Federal Reserve’s governance, which in its current form makes it possible for the Federal Reserve to be controlled by the very banks it regulates.
- October 27, 2009 - AFL-CIO President Richard Trumka called for finanical regulatory reform at the American Bankers Association Protest in Chicago.
September 22, 2009 - AFL-CIO President Richard Trumka condemned Wall Street greed and called for real financial reform at a Rally on Wall Street at the New York Stock Exchange.
March 11, 2009 - In his capacity as the Deputy Chair of the Congressional Oversight Panel of the Troubled Asset Relief Program (TARP), AFL-CIO Associate General Counsel Damon Silvers gave testimony before the Joint Economic Committee in Congress. He described the Panel's conclusion that taxpayers did not receive fair value for the TARP bailout funds and that TARP effectively gave subsidies to the recipient banks and their owners.
March 10, 2009 - In testimony before the Senate Banking Committee, AFL-CIO Associate General Counsel Damon Silvers presented the AFL-CIO’s views on improving financial regulation in the United States.
March 04, 2009 - In testimony before the Senate Committee on Homeland Security and Governmental Affairs, AFL-CIO Associate General Counsel Damon Silvers urged Congress to regulate systemic risk in the financial markets.
Press Statements
- March 16, 2010 - AFL-CIO President Richard Trumka issued a statement on the Currency Exchange Exchange Rate Oversight Reform Act.
- March 16, 2010 - AFL-CIO President Richard Trumka issued a statement on the Senate Banking Committee's release of comprehensive financial reform legislation.
- December 9, 2009 - AFL-CIO President Richard Trumka issued a statement on the extension of the Troubled Asset Relief Program.
- December 4, 2009 - AFL-CIO President Richard Trumka issued a statement on the Let Wall Street Pay For the Restoration of Main Street Act of 2009.
- November 10, 2009 - AFL-CIO President Richard Trumka issued a statement on the Senate Banking Committee's release of comprehensive financial reform legislation.
- October 15, 2009 - AFL-CIO President Richard Trumka issued a statement on the Over-The-Counter Derivatives Market Act.
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