Who cares about Dodd-Frank legislation? Probably not you. But damn it, girlfriend, these creeps are stealing our language to get away with their robbery.
Americans for Financial Reform (boring, right?) reveal that "last year, House Financial Services Chairman Jeb Hensarling (R-TX5) introduced a terrible bill that takes all the worst ideas concocted by Wall Street and predatory lenders, and combines them into one toxic package. That bill, the Financial CHOICE Act, will be discussed in a House Financial Services Committee hearing this week."
Do not allow the same rich, white guys who seek to limit women's life choices to sully the word "choice" by eliminating the powers of Elizabeth Warren's Consumer Financial Protection Bureau. CFPB has so far saved 25 million consumers (like you) of $11.4 billion bucks from not being cheated or fooled by banks like Bank of America for "deceptive marketing," selling things they didn't deliver, Citibank for "illegal credit card practices," and JP Morgan Chase for "unfair billing." The list of would-be scheming banks is long--and they all have lobbyists in DC.
Say the "boring" Americans for Financial Reform: "This radical bill that calls itself "Financial CHOICE" eliminates numerous elements of the Dodd-Frank protections passed in the wake of the financial crisis. It practically eliminates the powers of the Consumer Financial Protection Bureau to act forcefully against unfair or abusive practices in consumer lending markets. It even weakens regulatory powers that long pre-date Dodd-Frank. If this bill passed, it would make financial regulation weaker than it was even in the years leading up to the 2008 crisis.
Tell Congress: We expect you to protect consumers and the economy, not gut the rules that make our economy safer. We need you to oppose the Financial CHOICE Act and any other assaults on Dodd-Frank and the CFPB."
This legislation is crammed with deregulatory gifts to every kind of financial institution, including giant mega-banks who want to return to the excessive borrowing and risky practices that led to the financial crisis. It also provides “gimmies” to private equity funds who want to manipulate the financial system and exploit investors, mortgage lenders selling predatory subprime mortgages, and storefront payday lenders pushing products that trap consumers in a cycle of ever-increasing interest payments. This bill is an astonishingly terrible idea – and we need you to urge your Representative to oppose it."
Abort this so-called CHOICE!
Tell Congress: Attacking the CFPB, as the Financial CHOICE Act does, is the WRONG Choice for America.
* The economic theory that women should always work for less, or better, for free.