“More than 100 members of organizations… met with government officials of both parties and their staffs to lobby against several laws proposed recently… Brian Simmonds Marshall, policy counsel for Americans for Financial Reform, [said] , ‘We were very glad we had so many consumer advocates in Washington when these crucial issues to consumer protection are being actively considered by Congress…’”
“Progressive groups argued that the push to unravel Dodd-Frank was at odds with Mr. Trump’s populist campaign message that the economy was rigged in favor of corporate interests. ‘It is an enormous package of gifts for Wall Street and the worst actors in finance,” said Lisa Donner, executive director of Americans for Financial Reform, who said the bill House Republicans passed would increase the likelihood of another financial crisis.’ The banking industry’s top lobbyist, Rob Nichols, president of the American Bankers Association, cheered the committee’s vote.”
“‘The [House Financial Services] committee has passed a bill that would give Wall Street and assorted predatory lenders a free hand to abuse consumers, and investors, and would increase the likelihood of another financial crisis,’ said Lisa Donner, executive director of the group Americans for Financial Reform. ‘It is an enormous package of gifts for Wall Street and the worst actors in finance.’”
“Marcus Stanley, policy director at Americans for Financial Reform, said that he has a hard time taking Trump at his word, especially since he has populated his administration with finance executives. ‘So far, Trump has just talked up Glass-Steagall without actually doing anything, which is what you’d expect from a guy who puts big banks in charge of policy,’ said Stanley, whose group would like to see the law reinstated.”
“’Contrary to its title, H.R. 10 would deprive consumers and investors of any choice of their day in court when resolving serious disputes with powerful financial institutions and force them into a rigged system,’ Amanda Werner, arbitration campaign manager with Americans for Financial Reform and Public Citizen, said in a statement.”
“What Americans want and will continue to demand is, of course, the exact opposite of what Trump’s tax plan represents. They want to see the loopholes closed and Wall Street paying more, not less. Senator Bernie Sanders and Representative Keith Ellison have proposed a sales tax on Wall Street transactions; that would be a good start. Working families pay taxes when they buy a car or a pair of shoes.”