Elizabeth Warren Profile picture
U.S. Senator, Massachusetts. She/her/hers. Official Senate account.

Mar 7, 2018, 19 tweets

The Senate is expected to pass the #BankLobbyistAct – with Democratic support. But I'm not going down without a fight. ​I've sponsored a series of amendments to fix major flaws in the bill and add important consumer protections. Here are all 17:

1. Amend the #BankLobbyistAct to prevent rolling back rules on banks that received over $1 billion in taxpayer bailouts during the 2008 crisis. They already wrecked our economy once – we can't let them do it again.

2. Amend the #BankLobbyistAct to prevent rolling back rules on banks that are under Justice Department supervision after being busted for breaking the law. They broke the rules already – they shouldn't be rewarded with less oversight.

3. Amend the #BankLobbyistAct to prevent rolling back rules on banks that were fined over $10 million by regulators in the last 10 years. These banks have caused enough damage already – think of the harm they could do with even fewer rules.

4. Amend the #BankLobbyistAct to prevent rolling back rules on banks that have outsourced more than 50 jobs in the last 5 years. Congress should reward keeping jobs here at home – not do favors for banks that move jobs overseas.

5. Amend the #BankLobbyistAct to prevent banks that receive regulatory rollbacks as a result of this bill from buying back stock for 5 years. Why would we loosen the rules on big banks just so they can shower more money on wealthy shareholders and executives?

6. Amend the #BankLobbyistAct to prevent banks that receive regulatory rollbacks from this bill from merging or acquiring another bank for 5 years. Loosening the rules on these big banks will lead to more consolidation in the banking industry unless Congress prohibits it.

7. Amend Section 301 of the #BankLobbyistAct to include the FREE Act – which I introduced after the #EquifaxBreach to allow Americans to freeze their credit files without paying fees to the credit reporting agencies. washingtonpost.com/news/the-switc…

8. Amend the #BankLobbyistAct to include a bill I introduced to impose automatic penalties on credit bureaus like @Equifax for data breaches. fortune.com/2018/01/10/eli…

9. Amend the #BankLobbyistAct to include my bill banning the use of credit reports in hiring. cbsnews.com/news/should-em…

10. Amend the #BankLobbyistAct to include the bipartisan 21st Century Glass-Steagall Act that would break up the biggest banks. warren.senate.gov/newsroom/press…

11. Amend the #BankLobbyistAct to expand the CARD Act to keep students safe from predatory financial products on college campuses.

12. Amend the #BankLobbyistAct to ban the use of mandatory arbitration clauses in contracts for student loans.

13. Amend the #BankLobbyistAct to include the Sunlight in Workplace Harassment Act – a bill I introduced to require publicly-traded companies to disclose workplace harassment & discrimination settlements. buzzfeed.com/lissandravilla…

14. Amend the #BankLobbyistAct to include additional protections for student borrowers against loan servicers, lenders, and holders.

15. Amend the #BankLobbyistAct to include consumer protections for student borrowers who take out private loans to finance their education.

16. Amend Section 303 of the #BankLobbyistAct to keep seniors safe from financial abuse while still protecting them from bank scams.

17. Amend Section 401 of the #BankLobbyistAct so it doesn't provide big banks with the giant legal loophole they need to challenge how the Fed regulates them. thehill.com/opinion/financ…

If we're going to vote on the #BankLobbyistAct – we should vote on each of these amendments so the American people know whose side their senators are on: Working families or big banks.

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