This guest post is from Ellen Harnick from the Center for Responsible Lending. Over the past decade, federal bank regulators looked the other way as responsible loans were crowded out of the market by aggressively marketed financial products carrying hidden costs and fees. Tricky products,
This is part of a series on The Hearing called “Making Financial Regulation Work.” The guest post is from Shawn Bayern, assistant professor of law at Florida State University, and Zephyr Teachout, associate professor of law at Fordham University. Two weeks ago, the Obama administration
Leading Organizations Part of the ‘Americans for Financial Reform’ Coalition Advocate for Consumer Financial Products Reform Before the U.S. House Committee on Financial Services Today
In 20 Protests across Country, Union Workers Call Wells Fargo Bank a “Roadblock to Economic Recovery’ FOR IMMEDIATE RELEASE: June 23, 2009 The same union that occupied a Chicago factory for six days, drawing national media attention, today conducted protests across the country at 20
FOR IMMEDIATE RELEASE: CONTACT: Christy
Setzer 202-730-7349
Wednesday, June 24, 2009
Marcus Mrowka 202-730-7759
SEIU TO CITIGROUP: ENSURE RAISES GO TO WORKERS, NOT TOP EXECS
Washington, DC—Today, the Service Employees International Union
released a statement from Secretary-Treasurer Anna Burger, on news
that Citigroup is raising salaries by as much as 50 percent for
investment bankers and other top executives, to accommodate for
smaller annual bonuses. According to the New York Times, “Legal and
risk management employees, as well as those in the credit card and
consumer banking units, whose pay is typically skewed toward salary,
rather than bonuses, are expected to receive smaller increases.”
Said Burger: “Color us skeptical, but not surprised: The top dogs at
a company who took three taxpayer-funded bailout packages worth $45
billion, while wrecking the economy and keeping the bulk of its
employees at near-poverty levels, have decided to reward themselves
once more. Unfortunately, not all raises are created equal.
“Citigroup needs to commit to give any new raises to front-line bank
employees, who struggle just to make ends meet while dealing with the
rising costs of healthcare, not top executives who have contributed to
this mess.
“America’s big banks stand out as a startling example of an era of
corporate excess that needs to come to an end if we’re going to
rebuild an economy with strength that can last. By passing the
Employee Free Choice Act, we can begin to build an economy that
doesn’t just work for people in the top floor executive suites.”
# # #
With 2 million members in Canada, the United States and Puerto Rico,
SEIU is the fastest-growing union in the Americas. Focused on uniting
workers in healthcare, public services and property services, SEIU
members are winning better wages, healthcare and more secure jobs for
our communities, while uniting their strength with their counterparts
around the world to help ensure that workers—not just corporations and
CEOs—benefit from today’s global economy.
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Service Employees International Union (SEIU), 1800 Massachusetts
Avenue, NW, Washington, DC 20005 United States
National People’s Action organized a community meeting with the Federal Reserve in Richmond, California to raise the need to put an end to predatory lending and for regulatory reform in the financial sector. They will be organizing eight more meetings between now and September. If you would like to know more about the meetings, contact Jordan@ntic-us.org.
June 10, 2009 Advance America , 320 Euclid Ave , Des Moines, IA 50313 LoanMax, 5803 Hickman Rd., Des Moines, IA 50322 EZ Money, 2740 Douglas Ave., Des Moines, IA 50310 Dear Payday Lenders: On Wednesday, June 10, 2009, members of Iowa Citizens for Community Improvement (CCI) gathered to discuss