Call Your Senators to Strengthen Financial Reform

fat catTell your senators it’s time to vote to hold Wall Street accountable!

Please call your senators now, using the talking points below. Tell them it’s time to pass the American Financial Stability Act of 2010 with strengthening amendments and to vote “No!” on any anti-consumer amendments or big bank loopholes.

Wall Street has spent tens of millions of dollars to kill reform. Wall Street likes the status quo. Thousands of bankers and lobbyists are roaming the Capitol’s halls, trying to convince your senators that reform is bad for America.

Your senators need to hear the real American story -- from YOU!

It’s the final push for real reform! Don't let Wall Street kill the bill!

Public Citizen, the Americans for Financial Reform coalition and thousands of concerned Americans are flooding the Senate with calls. Call the Capitol switchboard at (202) 224-3121 and ask for your senators. Tell them your story and make sure they pass real financial reform!

Use the number and talking points below to call your senators now! 

CALL HERE: (202) 224-3121

Talking Points:

1.) I urge you to pass the American Financial Stability Act of 2010 with strengthening amendments and vote “No!” on any anti-consumer, big bank-loophole amendments.

Specifically:

2.) Defend the consumer protection agency in the bill, and make it stronger and more independent. Don't give veto power over the agency to the banking regulators that were responsible for this crisis, and don't use this bill to block states from protecting their own citizens.

3.) Executive pay and bonuses must be reined in to end the perverse incentive to gamble with investor and taxpayer dollars. Amend the bill so that corporate officers are paid for long-term performance, not short-term illusions.

4.) Clamp down on the trade in exotic financial instruments such as derivatives -- the things that threw AIG into crisis and required $180 billion in taxpayer bailout funds. At a minimum, all such instruments must be traded openly on exchanges and backed by sufficient collateral. Giant financial institutions should never again come to the government to make good on debts they can't pay. The bill also should stop banks from engaging in proprietary trading and prevent financial companies from making Goldman-Sachs-style bets against their own clients.

5.) Break up the banks -- too big to fail is too big to exist. Financial institutions should be prevented from growing so big that their failure threatens the economy. Measures already in the bill that would help prevent banks from becoming "too big to fail" should stay there.

6.) The bill should not create an Office of National Insurance within the Treasury Department permitted to negotiate international agreements, determine that existing consumer protections violate these international agreements, and then preempt state policies without any congressional approval. Cosponsor the Merkley amendment, which fixes this flaw in the legislation.

Use the simple form below to write to Public Citizen or send a message to action(at)citizen.org to let us know you made the call. 


January 19, 2018

Subject:





Dear Public Citizen,


We will add your signature from the information you provide.
 


When you click the "Send My Message!" button, Public Citizen will add you to our contact list so that we can communicate with you about the Consumer Financial Protection Agency and other important issues. You can remove yourself from our list at any time.

© Public Citizen. This Web site is shared by Public Citizen Inc. and Public Citizen Foundation. Learn more about the distinction between these two components of Public Citizen.