Wall Street private equity funds are continuing to snap up homes to pad their expanding portfolio of rental properties. Institutional investors own nearly a quarter million single-family rental homes. Wall Street landlords often hike rents, avoid repairs, gouge tenants with fees, and are more likely to evict tenants.
The briefing paper linked below uses Penn-Wharton and IRS data to show how the financial sector is a big winner from the passage of the Tax Cuts and Jobs Act, with almost $250 billion in tax benefits over the next decade flowing to financial firms
“Community Banks Have Returned to Profitability: The percentage of community banks that are profitable has increased every year since 2009. For the year 2015, over 95% of the nation’s 5,880 community banks showed a profit. This is up from 78% in 2010, the year Dodd-Frank passed.”
“Here are some of the major goals that the financial industry and its political allies hope to achieve through language attached to end-of-year appropriations bills. This list does not provide an exhaustive list of potential financial regulatory riders to funding bills, but does highlight the potential riders that have recently been most prominent in the debate. “
“Large regional banks like Washington Mutual, Countrywide, and Wachovia all failed during the financial crisis and placed a major strain on the financial system when they did so. These banks also played an important role in the epidemic of irresponsible mortgage lending leading up to the crisis.”
“Community Banks Have Returned to Profitability: The percentage of community banks that are profitable has increased every year since 2009. Over the first half of 2015, almost 95% of the nation’s 5,880 community banks showed a profit. Return on Equity is Up: Overall profit (Return on Equity) at community banks has also increased every single year since 2009, reaching a healthy 8.9% so far in 2015.”
Key Provisions Go a Long Way Preventing Another Financial Crisis Washington, DC – The historic Wall Street reform legislation passed by the Senate on May 20 will have an impact on Main Street as well as Wall Street. The big banks will make every effort
OPPOSE AMENDMENT #3789 Senator Brownback’s Modified Amendment #3789 which provides a special interest carve out for auto dealers, does not protect US military personnel or any other American consumer from the abusive and unscrupulous practices of some auto dealers. The auto dealer exemption, as now
$1.4 MILLION…The amount that the finance industry is spending every day to influence Congress. $600 MILLION…The amount that the six big banks and their trade associations have spent on lobbying, trade association activity, and political contributions since the first major federal bailout of Bear Sterns in March
The Senate must hold Wall Street accountable by passing the Bureau of Consumer Financial Protection (CFPB), an essential part of the reform package. Its purpose is to protect Americans from unfair, deceptive, and abusive financial products. As part of that mission, the bill provides the