s2155 Archives - Americans for Financial Reform

News Release: Famous Last Words – What the Bank CEOs Told Congress in 2018 to Get Deregulation

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.

Fact Sheet: Famous Last Words on S. 2155

Bankers, lobbyists, elected officials uttered some choice words on 2018’s bank deregulation legislation and the impact of mid-sized banks on financial stability that belong in any good collection of famous last words.

Letters to Congress: AFR urges vote against Senator Crapo’s substitute amendment to S.2155

AFR sent a letter to Senators urging them to vote against Senator Crapo’s substitute amendment to S.2155, which would increase systemic risk by deregulating large banks, expose home buyers to increased risk of predatory lending, and weaken protections against racial discrimination in credit markets.

Letters to Congress: AFR Opposition Letter to Moran Amendment 2140 — A Radical Attack on Bank Supervision

AFR opposes a radical legislation that would put unprecedented new limits on the powers of bank examiners.

Joint Letter to Senate Minority Leader Schumer

Click to view or download PDF version of the letter. S. 2155, the “Economic Growth, Regulatory Relief, and Consumer Protection Act,” is a controversial bill that includes dozens of measures that deregulate banks and other financial entities and would harm consumers and the public interest,

Joint Letter to Senate Majority Leader McConnell

Click to view or download PDF version of the letter. S. 2155, the “Economic Growth, Regulatory Relief, and Consumer Protection Act,” would be the first major banking bill considered by the full Senate following passage in 2010 of the Dodd-Frank Wall Street Reform and Consumer