The banking system is about to be massively deregulated unless we fight back now.
Republicans on the House Financial Services Committee are gunning to pass a bill called the "Financial CHOICE Act" that would make catastrophic changes to regulations passed after the Great Crash in 2007 where the banks wrecked the economy.
The Goldman Sachs of the world could make billions while we suffer. Republicans are trying to push the bill through the Committee and onto the House floor in the next few weeks — so we need to act now.
Join me in demanding that Congress stands up for Americans, not the banks. Save Dodd-Frank!
Do you remember the Great Crash of 2007? I sure do. As a Wall Street veteran, it was shocking to see the whole house of cards come tumbling down - and even worse to see low-income people and communities of color bear the brunt of the reckless greed of bankers.
African-American families lost over half their wealth -- and it has continued to decline -- in the aftermath of the financial crisis.
But thankfully, a small group of community organizations, consumer advocates, labor unions, and civil rights groups came together to fight back. They were able to harness people power to convince Congress to make reforms that would prevent a future crash.
And right now, we need your help to ensure these regulations aren't rolled back.
Tell Congress this is a complete betrayal of what Americans voted for. Save the Dodd-Frank Wall Street regulations.
It wasn’t easy to get the legislation called Dodd-Frank passed, even though Americans were hurting. The banks had a 1,000-to-1 edge in the number of lobbyists they could send to Congress -- and they lined the pockets of decision makers to fight it.
But people power prevailed. We did it then, and we can do it again. Over the weekend, SumOfUs members put in hundreds of phone calls to members of the House Finance Committee, and in the coming weeks we are going to keep pushing hard.