Topic: Big Banks

John Boehner
House Republicans want to block predatory lending protections for American troops, under pressure from big banks.
In 2006, Congress capped interest rates on payday loans at 36 % for our soldiers, but big banks created "deposit advance products" with effective interest rates of 300 %. But Republicans have added deregulation into the National Defense Authorization Act, which would block protections and leave our soldiers vulnerable.
Service members to receive over $123 million for unlawful non-judicial foreclosures by big banks.
JP Morgan Chase, Wells Fargo, Citibank, GMAC and Bank of America violated the Servicemembers Civil Relief Act (SCRA) with hundreds of non-judicial foreclosures on soldiers' homes while they were serving our country. Feb 2015.

Hillary Clinton, Presidential Candidate
Hillary Clinton says she called for Wall Street regulations early in the financial crisis.
In March 2007, before the depression gained traction, Clinton began addressing the subprime mortgage issue; warning about risks of derivatives; cracking down on subprime mortgages; and asking for improved financial oversight.
Marco Rubio
Rubio said that “over 40 percent of small and mid-size banks … have been wiped out” since the Dodd-Frank law was passed.
Actually, the total number of commercial banks has gone down only 16 percent, continuing a longtime trend.  Dodd-Frank provides consumer protections, an end to bail-outs, a counsel to assess risk in advance, transparency and accountability in banking, shareholder input in bank executive compensation, protection for shareholders, and better oversight.


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