|Stand with Sen. Brown: Tell Congress to make banks fix credit reports|
|Petition to Congress:
« Pass the Consumer Reporting Fairness Act to protect Americans from paying higher costs or even being denied housing or a job due to bank failure to correct credit report mistakes. »Add your name:
Millions of Americans have been harassed by debt collectors, refused loans, charged more to borrow money, denied jobs, and rejected from housing – all because of debts they no longer owe.1Worst of all, some banks have been accused of holding people’s credit reports hostage, forcing them to pay back these “zombie debts” in order to wipe mistakes from their records.
Right now, the burden is on consumers to contest errors on their credit reports and prove that debts have been discharged.2
Sen. Sherrod Brown is leading other progressive champions in the fight to protect our credit reports from shady lenders, and he needs our help. He has introduced a new bill that would force banks to report debts that have been discharged, and save millions of Americans money – now, it’s up to us to raise our voices and make sure it passes.
After big banks crashed the economy through fraud and illegal schemes, millions of Americans fell on hard times. Overwhelmed with debts or facing unemployment and unable to pay, many turned to bankruptcy. While a bankruptcy remains on your credit report for years, the debts that were discharged are supposed to be removed. But for millions of Americans, these “zombie debts” they no longer owe have lived on.3
Nearly 20 percent of Americans have had an error on one of their last three credit reports, according to the Federal Trade Commission. Stuck with a false debt? You can be denied a loan or charged a higher interest rate because a lender believes you owe a significant sum of money, in addition to a past bankruptcy. You could have trouble finding a place to live because rental companies deny your application, or you can’t get a mortgage. Some employers even review credit history, which means the banks’ mistake – or deliberate scam – could cost you a job.4
A mistake is one thing, but deliberately trying to collect on zombie debts is just despicable. Yet, Bank of America and JPMorgan Chase have actually been accused of refusing to fix credit reports, and instead demanding payment for debts that were already discharged.5
Last month, the nation’s largest bank settled allegations that it had intentionally sold inaccurate credit card data to debt collectors, who then illegally tried to collect on the debt.6
Sen. Brown has a long record of fighting Wall Street on behalf of struggling Americans. His new bill would force banks to report discharged debts to credit reporting agencies, instead of forcing consumers to jump through hoops. It would also give consumers the right to legal action to fix the mistake.7 This is a simple, commonsense fix to a problem that plagues millions of Americans, and we need to get behind it in a big way.
Sen. Brown is also pushing prominent regulators, including the Federal Reserve, to investigate how banks sell debts to debt collectors and crack down on illegal and shady practices.8 This issue has wide appeal — even people who have never had a debt discharged understand the importance of good credit and accurate credit reports. We need to show that we are paying attention, demand immediate action, and dare Republicans and corporate Democrats to pick banks and Wall Street over struggling Americans.
Stand with Sen. Brown: Tell Congress to make banks fix credit reports. Click below to sign the petition:
Thank you for speaking out,
Murshed Zaheed, Deputy Political Director
Add your name:
|Elise–We got an incredible response the first time we told you about this campaign–but it will be a long, uphill fight. Click here to chip in today.
When Elizabeth Warren was elected to the U.S. Senate, we were thrilled—because we knew she’d take on fights that no one else had the guts for.
Now she’s in one of those fights, and we’re standing with her.
Here’s the deal: Two years ago, President Obama appointed Wall Street insider Mary Jo White to run the Securities and Exchange Commission—the agency in charge of enforcing the rules on Wall Street. Her tenure has been a disaster of non-enforcement.1
Now, there are two new openings at the SEC, and we’re demanding that President Obama stop appointing Wall Street insiders to run it.
With your help, we’re turning this seemingly obscure issue into a major public debate.
You see, just like with Net Neutrality, the mainstream corporate media thinks issues like Wall Street enforcement are too complicated for the general public.
But that’s nonsense. Voters across the political spectrum are still outraged about the Wall Street bailouts—and the fact that none of the CEOs who tanked our economy have gone to jail.2
By using savvy online organizing, we’ve defined this as the next big fight to rein in Wall Street.
Our strategy is already having a huge impact—not long ago, Wall Street insider Keir Gumbs was seen as a shoo-in nominee. But the White House just announced they’re reconsidering the Gumbs nomination and interviewing noncorporate candidates.3
We’re so close to victory. Will you chip in $5 to help tell President Obama: No more Wall Street insiders?
Thanks for standing with us.
1. SEC chief is latest target of Elizabeth Warren’s ire, The Boston Globe, June 2, 2015
2. Five Years Later, Poll Finds Disapproval of Bailout, The New York Times, September 26, 2013
3. Elizabeth Warren allies delay Obama’s SEC pick, Politico, July 7, 2015
>>>PLUS NEWS OF THE NRA.
Dear readers, this is for you to step in, if you want America do be GREAT AGAIN AND ANEW !
REMEMBER: NO TURNING BACK – JUST LOOK FORWARD AT THE ‘NEW HORIZONS’ !!
PLEASE SPREAD THE WORD TO YOUR BROTHERHOOD AND NEIGHBORHOOD AND ON THE WEB. GO!!!
FIRST. TELL THEM OUR DEMOCRACY IS NOT ON AUCTION.
This is from a recent Politico story:
“While prospective presidential candidates in past cycles crisscrossed the country cultivating relationships with county chairmen in Iowa and New Hampshire, most 2016 White House aspirants spent the months leading up to their launches schmoozing billionaires.”
The biggest 67 donors in the 2016 cycle have donated $128 million to super PACs supporting specific candidates. The domino effect here is these candidates spend more time “schmoozing billionaires” than talking (and listening) to middle class Americans.
This is not how the American democratic system is supposed to work.
We have a government for and by the people — not for and bought by the billionaires. But since the Supreme Court’s decision in Citizens United, this is how it has worked. And the spending is getting worse and worse.
Our campaign finance system is on life support — and we need to fix it. Overturning the effects of Citizens United is the best way to stem the tide of undisclosed, unregulated outside money in our elections. Sign the petition if you support overturning Citizens United.
I’m working to fix the system, but I can’t do it without you. Thank you for showing your support today.
SECOND. ARM YOURSELF WITH KNOWLEDGE AND AWARENESS.
This is how Wall Street hijacks our democracy
THIRD. BECOME A CITIZEN CO-SPONSOR.