Wall Street's hoping you're too busy looking at Trump's scandals to see them slip a wishlist of deregulations through Congress.
They're really banking on you not paying attention. Every year Wall Street's pet Republicans introduce a bill to eliminate the financial protections that could prevent another economic crash like the one in 2008.
But now Trump's in the White House. He's itching to sign Wall Street deregulation into law and give his banker friends everything they're asking for.
SIGN THE PETITION: Tell Congress not to give Wall Street its wishlist. They need to oppose the Wrong CHOICE Act.
Trump has been promising bank executives for months that he would kill Dodd-Frank Wall Street reform reining in the big banks.
Trump told a room full of CEOs that after he does “a major elimination” of Dodd-Frank, “the bankers in the room, they'll be very happy.”1
The Wrong CHOICE Act is exactly the type of Christmas present for big banks that Trump was talking about. Here's a quick tour of why it’s an unbelievably bad idea:
- It would gut Elizabeth Warren’s CFPB. After returning $12 billion over the past 6 years from banks and financial companies to the customers they’ve cheated, the Wrong CHOICE Act would ban the Consumer Bureau from getting that kind of money back to cheated consumers.2
- It would effectively kill Dodd-Frank by eliminating key parts of the law's ability to rein in Too Big To Fail banks.2
- It would give free rein to predatory lenders, and block the Consumer Bureau from working to stop subprime mortgage lenders andpayday loan centers from sucking borrowers into a debt trap.4
It's as if Wall Street is fine risking another 2008-style crash -- as long as they can make some extra money in the meantime.
Tell Congress to oppose the CHOICE Act and protect consumers and the economy from Wall Street's greed.
- Reuters "Trump's Message to Bankers: Wall Street Reform Rules May Be Eliminated" April 12, 2017
- NJ.com, “Bamboozled: 3 Ways Lawmakers Are Gutting Consumer Protections” May 11, 2017
- San Francisco Chronicle, “The House of Representatives Takes Aim at Dodd-Frank” May 6, 2017
- Consumerist, “‘Financial CHOICE Act 2.0’ Would Eliminate Government’s Ability To Go After Shady Payday Loan Operations” May 9, 2017