Credo Action

Tell Chuck Schumer: Stop letting Wall Street win

Sign the petition

Petition to Sen. Minority Leader Chuck Schumer:

"Use your power as Democratic leader to block and resist the Wall Street bailout bill and push every member of the caucus to oppose it. Sitting on the sidelines as the Senate passes a bank lobbyist’s dream is a blatant gift to Wall Street."

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    Tell Chuck Schumer: Stop letting Wall Street win

    On Tuesday, 17 Senate Democrats voted to advance legislation that the nonpartisan Congressional Budget Office predicts will raise the chances of future taxpayer-funded bank bailouts.1

    Sen. Elizabeth Warren has been fighting this bill tooth and nail, even facing heat from her colleagues for criticizing the Democrats trying to roll back rules on big banks.2 But Senate Democratic Leader Chuck Schumer, in contrast, has been missing in action – letting the Wall Street bailout bill move forward seemingly without lifting a finger to stop it. As Vox reports:

    “You wouldn’t see defections on this scale… if leaders really wanted to block it. It’s an abdication of responsibility, and it’s appalling.”3

    Refusing to lead right now means deliberately letting Wall Street win. There is still time before the final Senate vote, and we need to force Schumer to act.

    Tell Chuck Schumer: Stop letting Wall Street win.

    Bank lobbyists and their puppets in Congress are making the bill worse as you're reading this. The far-right banking chief in the House is working with senators to fill the bill with amendments slashing rules on Wall Street.4

    The latest reports indicate that much-touted changes to the bill late this week were purely a political ploy, keeping the substance of the legislation the same and continuing to allow racial discrimination in housing and a huge carveout for CitiBank.5

    One of the amendments even rewards Equifax, the credit reporting company responsible for the release of hundreds of millions of Americans’ personal information.6

    Throughout it all, Chuck Schumer has been nowhere to be found:

    “Dem leadership might be ostensibly opposed to this bill, but is LETTING this bill pass… @SenSchumer needs to be held accountable for assisting rather than resisting.” – Indivisible policy director Angel Padilla7

    "[Schumer] stayed on the sidelines for months as the legislation made its way to the floor.” – POLITICO8

    “If Schumer really wanted to stop the bill, he could certainly do more.” – The New Republic9

    We need to make it clear that this failure of leadership is absolutely unacceptable and Schumer must start leading before it is too late.

    Tell Chuck Schumer: Stop letting Wall Street win.

    Thank you for speaking out.


    1. Jeff Stein, “Senate banking bill likely to boost chances of bank bailouts, CBO says,” The Washington Post, March 5, 2018.
    2. Sen. Elizabeth Warren, “I call it like I see it on the #BankLobbyistAct,” March 8, 2018.
    3. Matthew Yglesias, “The 17 Democrats selling out on bank regulation is worse than it looks,” Vox, March 6, 2018.
    4. David Dayen, “Senate claims to fix its Wall Street bill, but a look at the text says it’s still a giveaway,” The Intercept, March 8, 2018.
    5. Ibid.
    6. Ibid.
    7. Angel Padilla, “We’re seeing something that we often see from Democratic leadership...” March 6, 2018.
    8. Zachary Warmbrodt, “Senate advances bank deregulation bill as Democrats break ranks,” POLITICO, March 6, 2018.
    9. Alex Shephard, “Everything Wrong With the Democrats, in One Bill,” The New Republic, March 7, 2018.