Friends --

This week marked the 10-year anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act. And now, as America finds itself in the middle of the Trump recession, we need the reforms this landmark legislation established more than ever before. Tell Congress: Strengthen Dodd-Frank’s protections for consumers and borrowers!

Dodd-Frank was created to foster fair lending and to crack down on financial fraud and abuse. Since the law’s passage, the financial industry, and its congressional allies, have shamelessly schemed to reverse its reforms.

But now the biggest threat to Dodd-Frank is coming from the White House. As our recent report highlighted, the Trump administration is actively undermining its fair lending protections. And to top it all off, the administration is making Dodd-Frank’s enforcement that much more difficult having left no fewer than 78 positions unfilled at the Consumer Financial Protection Bureau!

Just look at the recent major disparities in the Trump SBA’s Paycheck Protection Program that largely denied loan access to small businesses in communities of color. It’s clear we still have a lot of work left to do to make our nation's financial system accessible to all Americans.

Friend, our representatives need to hear from us. Will you sign our petition to tell Congress: Strengthen the protections of Dodd-Frank and help borrowers and consumers -- not the industries that discriminate against them?

Thank you so much. And please stay safe.

-- Your friends at Allied Progress

Source:
http://alliedprogress.org/wp-content/uploads/2020/07/2020-07-20-Dodd-Frank-Anniversary-Report-FINAL-Fact-Checked-2.pdf