Is Your Senator Standing Up for You … or Wall Street?

This week the Senate has addressed important financial reform issues that will affect the future of virtually every American.  We are writing now to ask you not to stand by and let Wall Street prevail. Please let our Senators know we want them to stand up for ordinary Americans, not banks.

Banking lobbyists now understand that Americans are demanding financial reform, but they continue to fight very hard to get Senators to weaken reforms and limit their effectiveness.

One of the best ways to sabotage real reform is to cripple state laws. The financial industry wants to make sure all the power stays with existing banking regulators—the same ones who let the financial crisis happen. They are fighting to gut state lending laws and prevent state Attorneys General (AGs) from addressing lending problems in their own back yards.  

The truth is that AGs serve as “on-the-ground” cops on the abusive lending beat, and that states have shown that they are faster and better at responding to new problems than banking regulators.

If you believe that states and their AGs should be able protect their residents from ALL abusive practices …

If you believe that the bailed-out banks shouldn’t be able to buy their way out of consumer protection (to the tune of $1.4 million a day) …

And if you believe that financial reform should be for all families, not a gift to Wall Street, then call your Senators TODAY.  Tell them to

• OPPOSE the Brownback Amendment that would create a loophole for car dealers; and
• OPPOSE the proposed Carper Amendment (#3949) that would weaken states’ ability to address lending problems.

The stakes are high, and the financial industry will always outspend advocates for ordinary Americans.  But if Senators hear from enough concerned voters, we can make a difference.  Thanks for your help.

Thanks to everyone who has already called to protest a proposed loophole for auto dealers—dealers that broker 80% of all car loans and trigger the most consumer complaints. The debate on car dealers has been delayed until next week, so this is still a hot issue … and there’s still time to contact your Senator. 

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