$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 Center for Responsible Lending recently released a letter titled “Oppose Carper Amendment #3949: Don’t Give Banks a Free Pass from Federal and State Lending Laws”. Click here to read the letter (pdf).
Consumers Union has sent out multiple letters regarding preemption and S. 3217. The most recent letter is copied below. Click here to read their letter from May 5, 2010: States Must Be Allowed to Protect Their Residents from Harmful Financial Practices Click here to read
A coalition of New York consumer advocacy organizations signed on to a joint letter asking their senators to ensure that S. 3217 allows states’ attorneys general to enforce federal and state consumer protection laws. Click here to read the letter (pdf).
A coalition of consumer attorneys in New York recently wrote to their senators about the need for strong state power in financial reform legislation. Click here to read their letter to Senator Gillibrand. Click here to read their letter to Senator Schumer.
Click here to read a letter from the National Council of La Raza regarding their opposition to the Carper Amendment #3949 (pdf).
Click here to read the letter from U.S. PIRG titled “Oppose Carper #3949 Giving National Banks Immunity from Federal and State Consumer Protection Laws: Don’t Take States and AGs Off the Predatory Lending Beat”. PIRG Carper
CFA on Financial Reform:A Daily Look at Reform Proposals and Their Effects on Consumers May 3, 2010: Preemption of State Laws Leaves Consumers Vulnerable Dear Senator: The Consumer Federation of America urges you to reject amendments to S. 3217, the “Restoring American Financial Stability Act
From AFR member NACA: Carper Amendment Provides Complete Immunity to Wall Street Banks OPPOSE Amendment #3949 A vote for the Carper Amendment is a vote against consumer protection. Please stand up for Main Street and oppose Amendment #3949. The Restoring American Financial Stability Act of
Click here to read the letter from AARP regarding their opposition to the Carper Amendment #3949.