The new House Financial Services spending bill makes sweeping changes to the financial regulatory system by revising the protections that were put in place after the 2008-2009 economic crash. It sneaks in 88 pages of the odious and misleading HR 10 – “Financial Choice Act” to control and weaken the Consumer Financial Protection Bureau, the Financial Stability Oversight Council, and the SEC regulations that prevent commercial banks from trading for their own gain. This way, they can still grab power even if the Senate refuses to pass HR 10.
Script: I’m calling to ask Rep. [____] to oppose the Financial Services 2018 spending bill’s funding changes and new enforcement limitations on the Consumer Financial Protection Bureau and other banking regulators. Dodd-Frank was put into place to prevent another recession and to protect us from predatory financial practices.
Call Rep. Julia Brownley (CA-26): DC (202) 225-5811, Oxnard (805) 379-1779, T.O. (805) 379-1779
OR Rep. Salud Carbajal (CA-24): DC (202) 225-3601, SB (805) 730-1710 SLO (805) 546-8348