News Archives » financial regulation
Fr. Seamus Finn Speaks on Need for Greater Corporate Transparency at Yale Conference December 14th, 2010
- Theodore Dwight Woolsey and Dwight Hall, Yale University
On December 7th and 8th The Global Financial Integrity Project convened a conference entitled “Socially Responsible Investing and Corporate Financial Reporting: The Need for Transparency” at Yale University. Fr. Seamus Finn from the OMI JPIC office participated and presented a paper on the work of the office in promoting greater transparency by corporations on tax and tariff payments made in different jurisdictions. His paper also discussed the efforts of faith communities to ensure that the US Congress adopts greater transparency standards for the financial industry.
Fall 2010 Issue of the JPIC Report Available October 10th, 2010
Read the new issue of the JPIC Report. If you are not receiving a hard copy in the mail and would like to, please contact the JPIC Office by emailing Rowena Gono.
Read the Fall 2010 JPIC Report (Download PDF)
ICCR Members on The Daily Show: Holier Than Dow June 20th, 2010
Members of the Interfaith Center on Corporate Responsibility (ICCR) working on financial reform appear on The Daily Show. Samantha Bee interviewed the group of Catholics: Seamus Finn, OMI, Sr. Barbara Aires, SCNJ, Fr. Joe LaMar, MM and Cathy Rowan, representing the Maryknoll Sisters.
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Watch the video on the Daily Show website
Transparency on Congo Conflict Minerals Folded into the Financial Regulatory Reform Bill May 25th, 2010
With the passage of the Restoring American Financial Stability Act (S. 3217) in the United States Senate, the Congo Conflict Minerals and the Energy Security through Transparency (ESTT) amendments have made it into legislation. However, as neither amendment was in the House version of the financial reform legislation, both amendments will be taken up by the House/Senate Conference committee which will work to reconcile the differences between the two bills. Both amendments were agreed to during the passage of the Restoring American Financial Stability Act in the Senate.
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Strong 39% Vote at Bank of America for Religious Shareholders’ Proxy Resolution Maintains Growing Pressure for More Derivatives Disclosure on Wall Street April 28th, 2010
Vote at BofA’s Annual Meeting Comes on Heels of 30 Percent Support at Citigroup on Same Resolution; More Disclosure Vital at BofA Given How Mishandling of CDOs Tripped Up BofA’s Merrill Lynch.
In the second major 2010 shareholder vote urging more derivatives disclosure, a much higher-than-expected 39 percent of Bank of America (BofA) shares were cast today in support of a resolution sponsored by faith-based institutional investors belonging to the 300-member Interfaith Center on Corporate Responsibility (ICCR). The BofA shareholder vote took place as Congress debates the fate of financial regulatory reform, including increased derivatives disclosure.
The Bank of America shareholder vote improves on a 30 percent support level for the same proxy resolution at Citigroup on April 20, 2010. The ICCR member-sponsored resolution gave Bank of America shareholders an opportunity, as it did at Citigroup, to express their concerns about the lack of transparency in the derivatives market that contributed significantly to the financial crisis.
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