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Sherrod Brown Profile picture
@SenSherrodBrown
Mar 7, 2018 • 5 tweets • 1 min read • Read on X
If we want to help community banks, why not just help community banks? If we want to help credit unions, why not just help credit unions? If we want to help regionals, why not just help regionals? Why do the big banks get to have more, more, more? #DoddFrankRollback
What has Wells Fargo done to deserve an ounce of leniency? This is a bank that created more than 3.5 million fake accounts, including more than 1,500 in Ohio. And yet the bank wants more, more, more.
What has HSBC done to deserve any special treatment? Just since the crisis, the Department of Justice prosecuted the bank for laundering money on behalf of the Sinaloa drug cartel.
Why are we doing any favors for Citigroup? Just last month, it announced that it systematically overcharged 1.75 million of its customers on their credit cards.
Why are we giving a single ounce of help to these big banks? Besides being repeat offenders, these are the very banks that compete with our local lenders. If we’re trying to help our community banks and credit unions, why give away any favors to their competition?

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More from @SenSherrodBrown

Sherrod Brown Profile picture
Aug 16, 2018
Today, nearly 350 newspapers across the country came together to stand up for a #FreePress and defend the First Amendment in editorials. Here’s what Ohioans are reading across our state →
“We are indeed your lens into your community. We are not your enemy. Unlike some posts on Facebook and other social media sites, we verify our facts before publication. We are not anonymous. We stand by the veracity of our work.” – Chagrin Valley Times chagrinvalleytoday.com/viewpoint/arti…
"Power…belongs to the people. The press thus received extraordinary protection because of its capacity to inform readers and check the powerful." – The Akron Beacon Journal / @ohiodotcom ohio.com/akron/editoria…
Read 8 tweets
Sherrod Brown Profile picture
Jul 17, 2018
Just last week, a Federal Reserve official said, “There are definitely downside risks, but the strength of the economy is really pretty important at the moment. The fundamentals for the U.S. economy are very strong.”
If you just look at Wall Street, it certainly looks strong – that’s what happens after $1.5 trillion dollars in tax cuts for corporations and wealthy Americans are funneled into stock buybacks and dividends, juicing stock prices.
Meanwhile, the tax bill’s impact beyond Wall Street – on workers who haven’t seen a real raise in years, on young Americans drowning in student loan debt, on families trying to buy their first home – is an open question at best.
Read 10 tweets
Sherrod Brown Profile picture
Dec 8, 2017
.@jctgov confirmed GOP tax bill will add $1tril to the federal deficit, even after accounting for economic growth. We know that will force automatic cuts to Medicare - but what else will be slashed to pay for tax cuts to corporations that send jobs overseas?
Here are just a few:
Border Security: @CustomsBorder's operations and support will be cut by $1.3 billion. That makes U.S. borders less secure overall and takes critical resources away from Customs and Border Patrol officers working to keep fentanyl from entering Ohio communities.
Support for Ohio farmers: More than $18 billion would be cut from programs that help Ohio farmers do everything from stabilize farm prices to protect Lake Erie.
Read 9 tweets
Sherrod Brown Profile picture
Nov 20, 2017
Here’s what we learned last week about the Senate GOP tax proposal during last week’s Finance Committee hearings:
1. On Tuesday, a tax expert confirmed to Senator Brown that the bill actually encourages corporations to outsource jobs.
2. We learned the GOP had slipped a provision into their bill to repeal ACA, a move @USCBO said will actually take away $338B that currently goes toward helping working families afford their insurance to help pay for corporate tax cuts to the same companies who outsource US jobs.
Read 8 tweets
Sherrod Brown Profile picture
Sep 26, 2017
The recent fake account scandal at Wells Fargo and the data breach at Equifax have brought to light so-called “forced arbitration.”
These clauses, tucked in the fine print, force Ohioans to sign away their rights to access the court system if they are cheated.
Thankfully, the @CFPB, the @CMSGov, and @usedgov took action to protect consumers.
Read 9 tweets

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