Discover and read the best of Twitter Threads about #DoddFrankRollBack
Most recents (6)
Between the partisan tax bill, the #DoddFrankRollback bill, and the Administration constantly checking items off of Wall Street’s wish list, it’s a great year to be a big bank. nytimes.com/2018/06/28/bus…
Instead of payouts to executives and wealthy shareholders, big banks should be reinvesting profits into workers, lowering costs for consumers, and taking steps to avoid more taxpayer bailouts.
What’s worse is that the Federal Reserve wants to make life even easier for the big banks, by removing a key funding constraint and reportedly making next year’s tests even easier. -SB
Wages have been largely flat. 44 percent of Americans adults can’t afford an emergency expense of $400. One in four renters spends half their income on housing. But in light of all that, this Congress thought the best thing to do was to pass another giveaway to big banks.
#DoddFrankRollBack – which just got signed into law – increases the likelihood of a big bank failure and a financial crisis, and adds $671 million to the deficit. Make no mistake: it's a gift for Wall Street, and a setback for Main Street.
Last week, @Pontifex called our current financial system “an inadequate framework that exclude[s] the common good.” We're not going to give up on making that better – and that starts with listening to the people we serve, and fighting for the protections they need.
Under #DoddFrankRollback, Deutsche Bank – a foreign megabank – would be treated like a regional bank.
Have you ever seen a regional bank give out $2 billion+ in bonuses after losing money 3 years in a row? reuters.com/article/us-deu…
How often do regional banks get caught money laundering for Russian oligarchs? money.cnn.com/2017/01/31/inv…
Under #DoddFrankRollback, the foreign banks that took billions in bailouts could be able to take more risks, under a less watchful eye.
Banks like Santander - a bank that illegally repossessed cars from eleven hundred American service men and women while they were serving our country - could have its rules rolled back under this bill.
This bill could help Deutsche Bank, which the IMF called, “the most important net contributor to systemic risks” of all worldwide banks.
Just last week, we learned that an additional 2.4 million Americans were impacted by Equifax’s data breach – bringing the total to 147.9 million Americans. And yet, right now we’re considering a bill that includes provisions designed to help Equifax.
#DoddFrankRollback now includes a provision that takes away servicemembers’ right to take Equifax to court the next time the company’s recklessness exposes their sensitive financial data.
Equifax let your data loose and ruined your credit score?
Too bad, you won’t be able to sue them.
Too bad, you won’t be able to sue them.
If we want to help community banks, why not just help community banks? If we want to help credit unions, why not just help credit unions? If we want to help regionals, why not just help regionals? Why do the big banks get to have more, more, more? #DoddFrankRollback
What has Wells Fargo done to deserve an ounce of leniency? This is a bank that created more than 3.5 million fake accounts, including more than 1,500 in Ohio. And yet the bank wants more, more, more.
What has HSBC done to deserve any special treatment? Just since the crisis, the Department of Justice prosecuted the bank for laundering money on behalf of the Sinaloa drug cartel.
