Tell Your Rep: The “Financial CHOICE Act” Is a Wall Street Giveaway We Can’t Afford
Today the House is debating and voting on the deceptively-named “Financial CHOICE Act,” which will allow big banks to gamble with taxpayer money, stop the government from monitoring financial institutions for signs of another economic crisis, and let credit card companies, banks, payday lenders, debt collectors, and other industries trample the rights of consumers. It will also destroy the Consumer Financial Protection Bureau (CFPB), a watchdog that has returned nearly $12 billion directly from financial predators to 29 million consumers who were ripped off. Worse still, it makes laws designed to protect us from Wall Street fraud and recklessness EVEN WEAKER than they were in the lead up to the 2008 financial crisis that cost millions their jobs, savings, and homes.