No Free Pass for Wall Street

From our national partners at People’s Action:

Elizabeth Warren calls them “tricks and traps.” She meant all the sleazy ways big banks, predatory lenders, and debt collectors work to take billions of dollars from our families. They’re the same schemes that crashed the economy in 2008 — leaving people without jobs, without houses, and causing their savings to evaporate overnight.

After the big banks crashed the economy, people took action and won reforms to rein in Wall Street abuses. A big part of that was establishing the Consumer Financial Protection Bureau (CFPB).

The CFPB is the first federal financial watchdog whose entire job is making sure Wall Street can’t get away with the tricks and traps that bleed millions out of our pockets. The Bureau has recovered $12 BILLION dollars in ill-gotten gains for over 27 million people ripped off by the predatory financial industry.

But here’s the thing: Republicans love the campaign donations they get from Wall Street bankers, payday lenders, and hedge fund managers. They are literally itching to destroy the CFPB and let Wall Street go wild. That’s why they’ve introduced the Orwellian named “CHOICE Act” that would gut the CFPB and give Wall Street more power to gamble with our economy.

We know full well this bill is the WRONG CHOICE for our families. And it could be up for a vote in the House as soon as next week.

We’ve derailed Wall Street’s agenda before and, if we stand together, we can stop them again. But that means we need to stop the CHOICE Act dead in its tracks.

Tell Congress: You work for us, not Wall Street. We need our government to do more to rein in payday lenders and Wall Street bankers, not give them a free pass to crash the economy again.

 

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For more on fighting to keep the cop on the beat on Wall Street, follow @TNCitizenAction


 

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