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D3 Daily Action

D3 Daily Action

Wednesday's D3 Daily Action

OPPOSE THE WALL STREET-DEREGULATING FINANCIAL CHOICE ACT (H.R.10).  Call Representative Tipton today (script below). 

The House of Representatives is scheduled to vote on a bill this June 7th that would dismantle the 2010 Wall Street reform legislation, known as the Dodd-Frank Act. This law created the Consumer Financial Protection Bureau (CFPB), an agency committed to protecting consumers and making sure that banks, lenders, and other financial institutions treat you fairly. Dodd-Frank imposes important rules to rein in the kind of Wall Street speculation that crashed the economy and caused millions of people to lose their jobs, homes, and savings. It also seeks to rewrite the Shareholder Proposal Rule, taking away crucial rights of shareholders to hold companies accountable for risky behavior that harms consumers, workers and the environment.  Make sure your member knows you oppose Rep. Hensarling’s Financial CHOICE Act. Call or visit Representative Scott Tipton's office to voice your opposition.

Script:  I am calling to respectfully demand that Representative Tipton oppose Representative Hensarling's Financial CHOICE Act. This bill would destroy the Consumer Financial Protection Bureau, which has cracked down on predatory lenders and big banks that break the law and obtained $11.8 billion in relief for over 29 million Americans. This bill would give those lenders and big banks a free hand to exploit American consumers. This lack of oversight led to the 2008 mortgage crisis and 2009 financial crisis ("during which [I/my spouse/my sibling] lost [my/his/their] [job/house/retirement savings" ... share a personal story if possible). I expect Rep. Tipton to publicly state his opposition to this destructive bill and put the needs of his constituents above the desires of big banks and predatory lenders to profit.  Please take down my contact information to let me know when Rep. Tipton has made up his mind. I’m eager to hear what he decides and will be following his decision closely.

House Republicans Move to Cut Bank Regulations - NY Times

 

Financial Choice Act Looms Over Dodd-Frank's Future - US News & World Report

 

D3 Daily Action

D3 Daily Action

Wednesday's D3 Daily Action

Protect the Fiduciary Rule:  Tell the Department of Labor to protect our retirement savings from unscrupulous Wall Street advisors.  

Senator Elizabeth Warren, consumer protection groups and thousands of individuals are working to protect the fiduciary rule.  The movement to oppose Donald Trump's policies and ensure financial security for all individuals is growing.

Recently, 193,000 individuals submitted comments opposing a delay of the fiduciary rule.  Wall Street Special interests submitted 15,000.  Stand with working people - not Wall Street advisors.

The Department of Labor is accepting comments on the fiduciary rule right now.  Submit your comment here.
 
Right now, the Department of Labor, at the direction of Donald Trump, is “examining” an Obama-era rule that would have protected working people from unscrupulous financial advisers. If DOL rolls back this critical protection for working people, financial advisers will be able to continue providing conflicted advice that increases their commissions at your expense.

Read:  Trump Wants to Kill the Fiduciary Rule. Here's Why That's a Big Deal for Retirement Savers - Time.com: Money

Read:  President Trump Just Cost Americans Saving For Their Retirement $3.7 Billion - Huffington Post

Read: - The Labor Department's Fiduciary Rule is Delayed, But The Impact May be Here to Stay - Wall Street Journal/Market Watch

With thanks to the Economic Policy Institute for this D3 Daily Action.