After the global financial crisis of 2008 led to taxpayer bailouts of multiple large banks, Congress created broad safeguards to protect consumers -- and the whole economy, actually -- from reckless and risky bankers. That was the Dodd-Frank law.
Unfortunately in 2018, Congress passed, and Trump signed, legislation that gutted the oversight requirements for the mid-size banks you’ve been hearing a lot about recently.
The collapse of Silicon Valley Bank and Signature Bank should be seen as a huge wake-up call for everyone that this deregulation was a mistake -- and that there is a LOT more work to be done to create a more resilient banking system.
Now Senator Elizabeth Warren and Representative Katie Porter have introduced the Secure Viable Banking Act in Congress, which would repeal the 2018 changes and restore stronger oversight standards on mid-sized banks.
Contribute to TakeItBack.Org and fund the fight demanding Congress repeal the Trump-era rollbacks and pass the Secure Viable Banking Act now!