Imminent Bill Mark Up
The House Financial Services Committee is marking up several very important bills on June 22nd. YOUR REPRESENTATIVE sits on this committee and has a substantive say in these bills' future, so it is paramount they hear from you.
Click "Submit All" to send your representative
two letters--one supporting H.R. 5912 and
the other opposing two other pieces of legislation.
Close the ILC Loophole Act (HR 5912) - SUPPORT
Currently, contrary to longstanding US economic policy, the ILC loophole allows for corporations to own industrial loan companies (ILCs), which are the functional equivalent of banks, effectively mixing banking and commerce in one, unregulated, company, and adding significant risk to the financial system and consumers. This bipartisan legislation is strongly supported by banks, credit unions, and consumer and civil rights groups.
The
Overdraft Protection Act (H.R. 4277) - OPPOSE
H.R.
4277 contains overdraft restrictions that would force many community banks to
stop offering overdraft services to their customers, resulting in significantly more bounced checks, declined debit card
transactions and unnecessary credit rating harm.
The Small Business Fair Debt Collection
Protection Act (H.R. 6814) - OPPOSE
H.R. 6814 is misguided legislation
that would make it more difficult for community banks to communicate
with struggling small business debtors in order to renegotiate debt and provide
relief. It would not relieve small business owners of debt. The hurdles to communication H.R.
6814 would create would increase the likelihood of litigation which would be
more costly for borrowers than direct communication with creditors. This bill is not in the best interest of small business debtors or community banks.
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Only advocates whose member of Congress sit on the House Financial Services Committee are eligible for this campaign. If the member of Congress pulled does not match your home address, you will need to update your address in the system, which you can do, here.