Call of the Day: Protect Regulations on Big Banks

The Financial CHOICE Act of 2017 (H.R. 10) would repeal key regulations, known as the Dodd-Frank Act, from the financial legislation passed in the wake of the Great Recession.

First, H.R. 10 would repeal the Volcker Rule, which prohibits banks from making certain kinds of speculative investments, such as those that led to the housing market crash in 2008. 

Second, it would strip enforcement powers from the Consumer Financial Protection Bureau (CFPB), including the ability to fine institutions for unfair lending practices (which the CFPB recently used to fine Wells Fargo $100 million for opening 2 million accounts that their customers didn't know about). 

Let your representative know: We do not need a return to the same irresponsible banking practices that led us to the Great Recession!  The CHOICE Act will be voted on the House floor tomorrow.

WHO TO CALL:

Representative Cedric Richmond - in DC at (202) 225-6636, and in New Orleans at (504) 288-3777

OR

Representative Steve Scalise - in DC at (202) 225-3015, and in Metairie at (504) 837-1259

Because of how Congressional districts are drawn, New Orleans residents have either Richmond or Scalise as their representative.  If you don't know who your representative is, you can look it up by entering your home address on the U.S. House of Representatives website.

Reminders: Identify where you're calling from (town and zip code is fine) so they know you're an actual constituent.  Only call your own representatives.  Be concise - the office will get through more calls that way.  Be polite and don't argue with the staffer - they don't set policy.   If you get a voicemail, then leave a message.  And if you get a busy signal -- call back later!

Sample Script:

Hi, my name is [Name] from New Orleans, zip code 70118 [or wherever you're from].  I don't need a response. 

I'm calling to express my opposition to H.R. 10, the Financial CHOICE Act of 2017, which would undermine the crucial consumer protections provided by the Dodd-Frank Act.  These regulations protect consumers from risky lending practices and corporate greed. 

Thank you for your time and your work answering phones.

This call is courtesy of Metairie Indivisible.