To: The United States House of Representatives and The United States Senate
Don't let Wall Street Steal our Money: Defend Dodd-Frank!
The Dodd-Frank Act was created to stop Wall Street from stealing our money, and to prevent another financial crisis. Tell Trump and Congress: hands off our money, and hands off financial reform.
Why is this important?
On Feb 3, Trump signed an Executive Order that will lay the groundwork to gut Dodd-Frank, the law passed after the financial meltdown to stop Wall Street from stealing our money, and put in safeguards to prevent another crisis. Dodd-Frank created the Consumer Financial Protection Bureau (CFPB). When the banks steal our money, the Consumer Bureau fights to get it back. Under the protection of Director Richard Cordray, they’ve returned over $12 billion dollars to more than 29 million Americans conned by their financial companies.
Trump also plans to sign an Executive Order delaying the Conflict of Interest rule. Before this rule, Wall Street was stealing $17 billion a year from Americans saving for retirement through hidden fees. Because so many advisers are not required to put their clients first, millions of Americans end up putting their money into high-commission investment products that benefit the so-called “advisers” at their clients’ expense. The cost of such conflicted advice can add up to tens or even hundreds of thousands of dollars for a single worker or retiree.
Trump is letting the former #2 at Goldman Sachs, Gary Cohn, take an ax to financial reform put in place to protect our country’s financial stability and our pocketbooks. We cannot let Wall Street and predatory lenders write the rules. Tell Congress you will not stand for a rollback of Dodd-Frank and the Conflict-of-Interest rule.