Despite crippling the economy, big banks continue dirty practices.

                  5 years since the Financial Crash that decimated our economy. 3 years after President Obama signed the Dodd/Frank Wall Street Reform and Consumer Protection Act. Despite all the damage these banks have done, they are still scamming and ripping off their customers. We have heard about a list of abuses and frauds, that ranged from small things, like hidden fees, to pushing minorities into subprime loans and then switching them to more expensive mortgages at signing time. To selling trillions of dollars of derivatives and making bets on the derivative without having the reserves to pay off what they owed.

No CEOs were prosecuted and banks were allowed to settle a host of charges. Shifting the burden of fines onto the shareholders. Elizabeth Warren has demanded action from Congress, despite meeting stiff resistance from Republicans. So of course the dirty practices continue, putting homeowners and our economy at risk.

Bank Protection Services put consumers at greater risk of harm. Big banks are still scamming their customers with high fees that create a huge profit for banks. Dodd/Frank required banks to ask customers if they can charge them for overdraft protection. People who opt out of this service pay alot less than those who use it. Banks have made $32 billion from these fees.

Transaction Ordering is forced arbitration clauses on a bank account. These require you to give up your legal right to take big banks to court if it cheats or harms you. If you don’t agree, you cannot get the account. It is also called mandatory arbitration and binding arbitration.

Marketing Refinancing that costs people. Banks are marketing a refinancing scheme that promises annual savings of more than $4,000. The scheme really just adds more than $37,000 to the loan. The idea is the focus on lowering monthly mortgage payments. But it gives the owner a higher overall interest rate and adds another 10 years to the loan.

Banks are trying to kill the Consumer Financial Protection Bureau. The CFPB polices the big banks and protects financial consumers. Republicans have been hired by banks to obstruct and kill this agency. Republicans have blocked confirmations and are obstructing the nominee to head the agency. Republicans Filibustered the nomination of Richard Cordray and vowed to Filibuster any nominee to head the agency. They have also launched a propaganda campaign against the CFPB. Calling it unaccountable and unrestrained.

This us a common theme over the last 5 years. Republicans working as lobbyists for the wealthy. While Democrats try to enforce laws, Republicans help the wealthy and corporations circumvent the laws. This is why Congress is gridlocked. Republicans hate of Obama has decimated any progress and have hurt the American people because of spitefulness.

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