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Our Statement on Senate Passage of Sweeping Bank Deregulation Bill, S2155
Statement by Mike Litt, Consumer Campaign Director at U.S. PIRG, on this evening’s final passage of S2155 in the Senate
“It’s very hard to watch the Senate vote to ignore the painful lessons from the causes of the Great Recession 10 years ago. The warning signs are plain to see. There is a strong chance this bill will increase mortgage fraud, racial discrimination, and risky banking practices. It’s not worth all that risk when profits and loans for banks of all sizes are up right now. And to add insult to injury, why are the credit bureaus getting a break in this bill 6 months after the Equifax data breach?”
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U.S. PIRG is the federation of state Public Interest Research Groups. PIRGs are non-profit, non-partisan public interest advocacy organizations that stand up to powerful interests whenever they threaten our health and safety, our financial security, or our right to fully participate in our democratic society. Our detailed letter to the Senate opposing the bill.
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