The #BankLobbyistAct will roll back rules on 25 of America’s 40 biggest banks. Combined, they got nearly $50 billion in taxpayer bailouts after the 2008 financial crisis – and they’re back to making record profits.
SunTrust Bank got $4.85B in taxpayer bailouts after the financial crisis. It’s recovered pretty well. It controls $206B in assets and has a MLB stadium named after it. But the #BankLobbyistAct could regulate @Suntrust as if it were a small community bank.
BB&T Corporation has over 2,000 branches across the country and controls $221 billion in assets. It received $3.13 billion in taxpayer bailouts during the 2008 crash. But the #BankLobbyistAct could apply the same rules to @BBT as your neighborhood community bank.
Fifth Third Bancorp got $3.4 billion in taxpayer bailouts during the 2008 financial crisis and has more than 1,100 branches. But if the #BankLobbyistAct passes, @fifththird could get the same amount of federal oversight as your local community bank.
Keycorp is doing pretty well these days – it made almost $1.3 billion last year. That’s a lot of growth since the 2008 crash, when it got $2.5 billion in taxpayer bailouts. But the #BankLobbyistAct could regulate KeyCorp as if it were a small community bank.
Regions Financial Corporation has about 1,500 branches and 1,900 ATMs. It also got $3.5 billion in taxpayer bailouts during the 2008 crash. If the #BankLobbyistAct passes, @askRegions could get the same level of federal oversight as a small community bank.
Huntington Bancshares Incorporated got $1.4 billion in taxpayer bailouts during the financial crisis. But the #BankLobbyistAct could apply the same rules to @Huntington_Bank as your local community bank.
Comerica Incorporated controls about $72 billion in assets today & has naming rights to a MLB stadium – but taxpayers spent $2.25 billion bailing it out during the 2008 financial crisis. And the #BankLobbyistAct could regulate @ComericaCares as if it were a tiny community bank.
Zions Bancorporation got $1.4 billion in taxpayer bailouts during the financial crisis. But last spring the CEO begged to be taken off the government watch list. He got his wish – the #BankLobbyistAct could apply the same rules to @ZionsBank as your local community bank.
These aren't “community banks” – these are huge financial institutions that wrecked out economy in 2008 & sucked down about $50 billion in taxpayer bailouts. The #BankLobbyistAct takes them off the watch list & puts us at risk for another financial crisis.theintercept.com/2018/03/02/cra…
