Washington, D.C. – The House Financial Services Committee faces a critical decision as it prepares to vote on a series of bills in tomorrow’s markup. These proposed bills, if passed, would undermine the financial system, families saving for retirement, and everyday investors.
Washington, D.C. – A new report released today, “Banking Fair: The Promise and Urgency of Doing Postal Banking Right,” calls for a public banking option to be restored within the U.S. Postal Service. USPS has a long history as a public service institution, despite the seeds of privatization sown by Republican presidents and Congress since 1970.
Washington, D.C. – Hundreds of public interest groups, lawmakers, constitutional law scholars and more filed amicus briefs with the Supreme Court this week in support of the Consumer Financial Protection Bureau (CFPB) in the case, CFPB v. CFSA, which the Supreme Court will review this fall.
The Fifth Circuit’s radical and unprecedented decision in the case of CFPB vs. CFSA, if confirmed, would undermine the critical work carried out by the CFPB in protecting consumers and enforcing regulations on Wall Street and predatory lenders, according to an amicus brief filed by consumer advocates.
As the former CEOs of failed banks prepare to testify before Congress, consider the self-serving statements that bank executives, lobbyists and lawmakers uttered to grease passage of banking deregulation legislation in 2018. “SVB, like our mid-sized bank peers, does not present systemic risks,” Greg Becker, the CEO of Silicon Valley Bank insisted, about five years before federal authorities declared his bank a systemic risk.
Washington, D.C. – The Solicitor General submitted today a brief supporting the Consumer Financial Protection Bureau (CFPB) in the case CFPB v. CFSA. The Supreme Court will hear the case this fall, reviewing a radical and unprecedented Fifth Circuit decision that held the CFPB’s funding structure unconstitutional and sided with predatory pay-day lenders over CFPB rulemaking designed to protect consumers.