|
John,
In 2018, under the Trump administration, Congress recklessly dismantled key elements of the Dodd-Frank reforms passed after the 2008 financial crash, leaving mid-sized banks with significantly reduced regulation.
The disastrous effects of this deregulation are now plain to see: the collapse of two major banks and the urgent need for government intervention to prevent a full-scale financial meltdown.
The Trump-era rollbacks not only left banks exposed to risk but also weakened consumer protections. By unraveling the vital safeguards put in place by the Dodd-Frank reforms, the Trump administration opened the door to more reckless banking practices.
We must contact our Senators and Representatives and demand they work to repeal the Trump-era rollbacks that have jeopardized our financial stability by co-sponsoring the Secure Viable Banking Act now.
The Secure Viable Banking Act will reinstate the repealed Dodd-Frank rules and thus restore the safeguards needed to maintain the stability of our financial system and strengthen consumer protections.
Every banking crisis proves that lack of oversight puts the financial security of millions of households in jeopardy and undermines the overall stability of our economy.
Unfortunately, with the collapse of Silicon Valley Bank and Signature Bank, the predictable outcome of more deregulation happened yet again.
It’s clear we cannot afford to be complacent in the face of such grave risks.
That’s why our elected officials must act with urgency and support the Secure Viable Banking Act, proposed by Senator Warren and Representative Porter.
It's time for us to stand up and make our voices heard.
Send a clear message to your Senators and Representative: the financial security of our nation is non-negotiable. Repeal the Trump-era rollbacks and co-sponsor the Secure Viable Banking Act now.
Together we will create a robust and resilient financial sector that serves the needs of all Americans, not just the privileged few.
- Amanda
Amanda Ford, Director
Democracy for America
Advocacy Fund
|
