[RELATED: Read Demos' Letter in Support of the SAFE Banking Act, here.] Our financial system has become dominated by institutions that are "too big to fail." Moreover, as FDIC Chairman Bill Isaac has said, they are "too big to manage, and too big to regulate." MIT professor...
Letter to U.S. Senate Urging Support For Safe Banking Act to Limit Size of Largest Financial Institutions
Dear Senator: Demos is a national, non-partisan, non-profit research and advocacy organization. As part of our research into policies to promote broadly shared prosperity, we have investigated the role that financial services deregulation has played in undermining the American middle class. For a...
Call out Wall Street for its Abuses and Army of Lobbyists Fighting to Block Needed Protections New York, NY — Today at New York City Hall, scores of community members joined elected officials and organizational leaders to rally and call on the United States Senate to stand up to Wall Street...
Demos Looks Ahead to Critical Floor Debate Washington — On Monday, the Senate Banking Committee approved legislation to overhaul the nation's financial services sector on a party-line vote in an unusually brief session. Forgoing what was expected to be a drawn-out and contentious...
Heather McGhee explains why a consumer financial protection agency is crucial for reform. The Nation
Visit msnbc.com for breaking news, world news, and news about the economy Heather McGhee breaks down the politics of regulatory reform. MSNBC
The time has come for the creation of a Consumer Financial Protection Agency. For thirty years, Washington has been captive to a governing philosophy that eschewed regulation in almost any form, arguing that the hand of government was best kept behind its back. But the era of deregulated finance...
After trillions of dollars in taxpayer funds, cheap loans and other forms of support, the biggest banks are bigger and more complex than ever. The crisis was widely blamed on the eager promotion by the nation's biggest banks of overcomplicated, deceptively advertised loans and securities. Experts...
President Urges Congress to Act Washington, DC — Last night, President Obama called for directing $30 billion in TARP funds to community banks for small business lending, in recognition that the largest banks have used taxpayer funds for increased trading activity while lending remains low. He...
Demos Calls for Swifter Action As Issuers Continue to Slash Credit Limits and Ratchet Up Interest Rates and Fees Washington, DC — Federal regulators approved a final rule today to curb certain credit card lending practices that thousands of American consumers have decried as unfair and abusive...