1. The so-called “Financial CHOICE Act” (HR 10) introduced in April 2017 by Rep. Jeb Hensarling (R-Texas), is a bill scheduled for a June 7 (this Wednesday) vote in the House of Representatives. Although the Act’s sponsors tout it as being focused on financial reform and Wall Street accountability, in reality it eliminates major consumer safeguards created in the wake of the disastrous financial crisis of 2008. The bill would weaken regulatory powers that pre-date the 2010 Dodd-Frank Act, and eliminate long-standing rights of shareholders to hold companies accountable for corporate misbehavior.
In essence, the Financial CHOICE Act would:
- Destroy the Consumer Financial Protection Bureau (CFPB) and obliterate consumer protections as we currently know them, including allowing banks to gouge consumers with debit card fees;
- Deregulate the banks and financial institutions whose greed brought on the 2008 financial crisis and resulting economic downturn;
- Eliminate opportunities for ordinary shareholders to formally engage with the companies in which they are invested.
House Republicans are hoping to sneak this bill through without Americans knowing. The Financial CHOICE Act allows for risky corporate behavior and practices that benefit Wall Street, and would take away power from regulators that should be able to protect us from corporate greed. (See Indivisible’s info page on this bill here.) Contact Goodlatte to tell him to vote NO on HR 10.
- Goodlatte: Staunton (540) 885-3861, Harrisonburg (540) 432-2391, Lynchburg (434) 845-8306, Roanoke (540) 857-2672, Washington DC 202-225-5431 and email form here.
- Suggested script: “Hello, my name is _______, and my zip code is ________. I’m contacting Representative Goodlatte to express by opposition to HR 10, and tell him to vote no on Wednesday. The so-called “Financial CHOICE Act” would return Wall Street to the power it had before the financial crisis, eliminate the rights of small investors, and would repeal laws like the Volcker Rule and the fiduciary rule which are put in place to protect my assets and our financial system. Do not allow this dangerous bill to pass and set us up for another financial disaster.”
2. EVENT- MORAL MONDAY – 6:00-7:00pm – Men’s Green Thumb Park
If you aren’t mad – you aren’t paying attention. Come rally with us – brings signs, and bring a friend. There are too many things to focus on to pick one focus for this Monday’s rally. If it is important to you – come stand up for what you believe in.
3. UPCOMING EVENT – Staunton Goes Green! Wednesday, June 7th, 6-8pm at Staunton Public Library, upstairs.
Join us as Staunton City Council Member Eric Curren shares with residence the opportunities for making our city greener, more environmentally friendly, and more sustainable. Bring your ideas for how to make our beloved city greener. Solar schools, #NoPipeline signage, increased recycling, no idea is too big or too small! The goal is to leave this meeting with the concrete list of initiatives we will be asking Staunton City Council to put into place city-wide. More details at the Facebook event here.