Jack, sign if you agree: The Silicon Valley Bank collapse was avoidable.

SIGN THE PETITION
Under Donald Trump’s presidency, a Republican-led Congress in 2018 rolled back consumer protections in the Dodd-Frank Act and lessened scrutiny for banks with under $250 billion in assets. The rollback is being touted as a primary contributor to the collapse of Silicon Valley Bank.

Now, Sen. Elizabeth Warren and Rep. Katie Porter have introduced legislation to repeal part of the Dodd-Frank rollback. The Secure Viable Banking Act puts banks with at least $50 billion in assets back under strict Federal Reserve oversight.

Another big bank collapse is preventable, and Democrats in Congress are fighting to protect American consumers.

Sign the petition: Hold Big Banks accountable. Repeal the 2018 Dodd-Frank rollback!

SIGN THE PETITION
Keep fighting,
Jayleen Alvarado, Daily Kos

P.S. You can find an earlier email below:

Jack, sign the petition to Congress: No more Silicon Valleys. We need tough bank regulations.

Sign the petition
Silicon Valley Bank has collapsed, and it was completely avoidable.

In 2018, Donald Trump and the Republican Congress—at the behest of the banking industry—rolled back key parts of the Dodd-Frank law that protected consumers.

As Senator Elizabeth Warren warned at the time: "Washington is about to make it easier for the banks to run up risk, make it easier to put our constituents at risk, make it easier to put American families in danger, just so the C.E.O.s of these banks can get a new corporate jet and add another floor to their new corporate headquarters.”

Sign the petition to Congress: Hold Big Banks accountable. Undo the 2018 Trump law that caused this mess.

Sign the petition
Had this not happened, Big Banks would have been subject to stronger liquidity and capital requirements to withstand financial shocks. The collapse we are now seeing could have been predicted and prevented, and consumers' assets would have been protected.

Instead, we saw Silicon Valley Bank executives give themselves huge bonuses—hours before the federal bank regulators rushed in to take over a failing institution. They did this because, in the current financial regulatory environment, they believed that they could get away with it.

In order to ensure that Big Banks can never do this again, Congress must immediately repeal the 2018 Trump law that weakened Dodd-Frank. Additionally, we must reform deposit insurance so that everyday consumers do not suffer the consequences of reckless bank behavior.

Sign the petition to Congress: Hold Big Banks accountable. Undo the 2018 Trump law that created this mess.

Sign the petition
Keep fighting,
Paul Hogarth, Daily Kos