Urgent: don’t let them deregulate the banks

This week, the Senate will vote on whether to unravel Wall Street reform. House Republicans voted to gut the Dodd-Frank Wall Street reform law last summer with the “Financial Choice Act,” which destroys the Consumer Financial Protection Bureau (CFPB), and deregulates banks and financial institutions.
Now, the Senate is back with its own version of Wall Street de-regulation. In another example of Republican double-think, it’s called the “Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155)”.

The new legislation allows smaller banks to engage in speculative trades, allows unchecked racial discrimination in morgage lending, allows larger banks to operate with fewer regulations; and prevents the Federal Reserve from enforcing rules equally across the board. The scary thing is that Democrats are supporting this dangerous bill, which puts us at risk of another financial crisis like the one in 2008.

Senator Feinstein has already come out against this bill, saying

“This bill will have real consequences. The nonpartisan CBO says the probability of a large bank failing or another financial crisis will go up if this bill is enacted. It appears that we’ve forgotten not only the lessons from 10 years ago, but also the devastating consequences for American families. In California, more than 2 million people were unemployed, 3.5 million mortgages were at risk and nearly 200,000 people filed for bankruptcy. We simply can’t return to that time.”

Amazingly, Senator Harris has not yet committed herself on S. 2155. We need to let her know how we feel: she must vote against this Wall Street giveaway. Don’t wait on this. The Senate starts voting procedures tomorrow afternoon.


ONE THING YOU CAN DO RIGHT NOW


Use this script to call Senator Harris and tell her she must vote no on S. 2155.

Extra credit: Call Senator Feinstein and thank her for standing up for her constituents and committing to vote no.


UPCOMING EVENTS


Fireside chat with Congresswoman Pelosi staff, a rare opportunity for “off-the-record” conversation
Thursday, March 15
6pm – 7pm
Noe Valley Library, 451 Jersey St.
REGISTER NOW

Grassroots Organizing (GO) Team in Tracy
Join Stand Up SF, Swing Left, and Tracy Democrats to get out the vote and flip a house seat!
Saturday, March 17
11am – 4pm
902 N. Central Ave. Suite 201
Tracy CA
REGISTER NOW and we’ll follow up with details.

Stand Up SF General Meeting with special guest from Moms Demand Action for Gun Sense
Sunday, March 18

Noe Valley Library, 451 Jersey St.
REGISTER NOW

Keep up the pressure!

While we were distracted by the stranger-than-fiction Russia controversy last week, Senate Republicans were working hard, fast, and in secret to repeal Obamacare. The Senate bill will be sent to the Congressional Budget Office (CBO) in the next few days, and the “score” will come out the week of June 26. Since the House bill was such a dumpster fire, the fear is that it will be easy for the Senate bill to be an improvement while still hurting millions of people. But we’ve also seen news reports showing how nervous U.S. Senators are about gutting our health care. That means the pressure is working. However, while health care is out of the news the angst goes down and the volume of calls into Senate offices goes down. We need to get the noise level back up. This bill will affect all of us. We’ve called our Senators on this before, but we need to call again.

Meanwhile, this week in the House, Republicans (only) voted to erase a number of core financial regulations put in place by the 2010 Dodd-Frank Act. Among other things, the Financial Choice Act weakens the powers of the Consumer Financial Protection Bureau, and eliminates the Labor Department’s fiduciary rule, which requires brokers to act in the best interest of their clients when providing investment advice about retirement.

Stand Up SF actions:

  • Call Senators Feinstein and Harris to voice your alarm about ACA repeal. Focus on how the bill will affect you and your loved ones. Here is a resource if you need help on what these effects would be. Script: “Hi, I live in San Francisco and I am a constituent. I’m calling to ask Senator ______ to protect my health care. The bill passed by the House will…” (tell how it will affect you and your loved ones)
  • Call Senators Feinstein and Harris and tell them to vote NO on weakening financial protections. Script: “Hi, I live in San Francisco and I am a constituent. I’m calling to ask Senator ______ to vote against any legislation that weakens the Consumer Financial Protection Bureau or increases the chances of another financial crisis.”
  • Deadline Tues June 13th to Protect immigrants and Muslims: Call Assemblymembers Chiu and Ting and ask them to vote yes on SB54, the California Values Act, which preserves our sanctuary state status and prevents deportations, and SB31, the California Religious Freedom Act, which prevents a Muslim Registry. These bills will be voted on in committee on June 13th.

Thanks for all you do.

Constitutional crisis

Great news: SB 562, the Healthy California Act guaranteeing single-payer health care for all, has passed the Senate! This is a huge win for health justice in California. The bill now proceeds to the CA Assembly, where there will be a lot of work to do to ensure the plan is affordable and equitable. Please make sure Assemblymembers Ting and Chiu know where you stand on single-payer!

In federal news, this week the House votes on H. R. 10: the so-called “Financial CHOICE Act“, which eliminates major consumer safeguards created in the wake of the disastrous financial crisis of 2008. In essence, it would deregulate banks and financial institutions, destroy the Consumer Financial Protection Bureau (CFPB), and obliterate consumer protections as we currently know them, including allowing banks to gouge consumers with debit card fees.

House Republicans are hoping to sneak this bill through without Americans knowing. Meanwhile, the constitutional crisis continues. Last month, Donald Trump fired FBI Director James Comey, the person charged with investigating his Administration. This Thursday, Comey testifies before the Senate Intelligence Committee. To get you ready for that, we’re sharing Indivisible Guide’s Truth or Trump: Constitutional Crisis and What You Need to Know. This document outlines Trump’s obstruction of justice, the sham congressional investigations that are covering up the evidence of Russian collusion, and what we need to be asking our MoCs for. And if you’re confused about all the different investigation options (what’s a special counsel? what’s an independent commission?), this explainer breaks them down for you.

On Wednesday, we’ll be asking Senator Feinstein to prioritize funding for the EPA as budget negotiations move forward. We’ll also pressure her to co-sponsor S. 1127, the Justice Safety Valve Act, to undo Jeff Sessions’ return to mandatory minimum sentencing and help reform our racist, shameful incarceration system. Please join us to bring your issues to the table!

This week’s Stand Up SF actions

  • Expose Russian collusion: Call Senator Harris and ask why she has not yet signed on to S. 27, Ben Cardin’s bill to establish an independent commission to explore Russian interference in our election. (script)
  • Don’t let the GOP deregulate Wall Street: Call Congresswoman Pelosi and find out where she stands on the Financial CHOICE Act (H.R. 10). Make sure she knows that you oppose it. (script)
  • Bring single-payer health care to CA: call California Assemblymembers Ting and Chiu and tell them you support SB 562 and single-payer for California, or send a letter of support! (call script and letter template)
  • Protect women from discrimination: Call California Assemblymembers Ting and Chiu and ask them to support the Reproductive Health Non-Discrimination Act (RHNDA) to protect women from discrimination for their reproductive choices. (script)
  • Support Governor Brown’s fight to protect California’s environment: contact him and thank him for forming the U.S. Climate Alliance to defy Trumps’ retreat from the Paris Agreement. (background). Extra credit: call Mayor Ed Lee and thank him for pledging to honor the Paris Agreement.

Actions with other groups

  • Sat 6/10: Phone bank for ACA and for Archie Parnell (South Carolina) with Democracy Action. RSVP
  • Resist reproductive rights rollbacks! NARAL is looking for activists to host reproductive freedom action parties. Learn more and sign up here.
  • SwingLeft asks that you donate and volunteer for Jon Ossoff’s runoff campaign in Georgia. Help turn this red state blue! Learn more.

Learning opportunities

  • Tue 6/6 10am: Join a webinar on Advancing Police Accountability in the Trump Era. Register here
  • Tue 6/13: Leading activists from 350.org, Last Real Indians, and the Student Divestment Network present a webcast on The Power of Divestment. RSVP
  • Wed 6/14: Join Ben of Ben and Jerry’s for ice cream and a discussion on how to overturn Citizens United. RSVP