Home » Archive by Category

Statements and Press Releases

News Release: House Women Take On Wall Street CEOs Over Inequality And Discrimination
April 11, 2019 – 3:22 pm

Big banks have lobbied for and won massive tax breaks and increased deregulation at a time when they are already making record profits. Ordinary Americans are getting a less safe financial system, and one that is an ever-more-powerful driver of inequality and economic vulnerability. Wall Street CEOs need to be held accountable for abuses by the institutions they run, and the dangerous policies they are pushing, both openly and quietly

News Release: Wall Street CEOs Can’t Explain Away Deregulation, Tax Cut, Anti-Oversight Lobbying
April 9, 2019 – 12:41 pm

Over the past two years, we’ve seen a lot of handouts to Wall Street but very little change for the better. Big banks got a massive tax cut and deregulation legislation right at the time they were making record profits. Ordinary Americans got a financial system that is less safe than it used to be, one that is an ever-more-powerful driver of inequality and economic vulnerability.

News Release: Lobbyist Proposals Would Solely Serve Corporate Interests, Discarding Accountability
April 2, 2019 – 11:04 am

Corporate lobbyists have put together a set of plans aimed at making it easier for executives to serve nothing but their own narrow self-interests without any scrutiny, eliminating accountability to the shareholders who actually own the company.

News Release: CFTC’s Derivatives Rule Opens A New Gap In Market Regulation
March 25, 2019 – 3:52 pm

The requirement in the Dodd-Frank Act that major dealers in financial derivatives be regulated as such, and meet risk management and business conduct standards, is a direct response to derivatives market abuses that contributed to the 2008 financial crisis. The loophole created by today’s Final Rule could permit large-scale evasion of this requirement.

Stop The Debt Trap Announcement: Broad Coalition Opposes Proposal to Delay CFPB Payday Rule
March 20, 2019 – 9:43 am

Washington, DC – The Consumer Financial Protection Bureau (CFPB) has proposed delaying when payday lenders would need to comply with a 2017 rule on predatory payday lenders by 15 months. This would allow the industry …

News Release: Bank Workers, Members of Congress, Consumers, And Community Advocates Will hold Rally And Press Conference Addressing Persistent Predatory And Anti-Worker Practices
March 12, 2019 – 8:00 am

Wells Fargo workers have long demanded better protection, including a union, as well as a genuine seat at the table to help ensure the bank’s dangerous practices are kept in check. On the day of the hearing, workers will also deliver a petition to Sloan calling on him to meet with front-line workers to address the toxic, high-pressure environment that still exists for thousands of Wells Fargo employees.

News Release: Fed Deregulation Of Bank Capital Distributions Increases Risks To The Public
March 7, 2019 – 4:49 pm

This decision increases risks to the public. It is just one of numerous current and proposed deregulatory changes, to both the stress tests and other prudential requirements, which are currently in process at banking regulators.

News Release: Ahead Of Kraninger Hearing, Advocates Demand To Know Why CFPB Is Attacking Consumer Protections
March 7, 2019 – 9:30 am

Today, CFPB Director Kathy Kraninger is set to testify in front of the House Financial Services Committee, marking her first oversight hearing since being narrowly confirmed last December. Kraninger will now have to answer to a new chair, Rep. Maxine Waters, and a majority that is demanding answers to why the agency has sided with the industry over consumers.