Under current law, victims of domestic violence have no Federal protections against discrimination by banks. This bill helps them. And under current law, State insurance regulators are not allowed the ability to fully regulate the insurance activities of national banks. This bill gives them equal standing to protect consumers. In fact, this bill establishes the consumers' right to functional regulation of all financial activities, to ensure that banks and securities and insurance firms can't avoid regulation and consumer protections by shifting activities from one affiliate to another.
Current law provides consumers little to no protections from bank securities sales.
This bill protects them. Current Federal law doesn't require ATM fee disclosures. This bill would require that consumers get that information. This bill is about common sense protections to safeguard individual Americans and ensure that their financial system is not placed at risk. After 65 years, we are in danger of allowing the real world financial system to pass us by, with many of our current laws irrelevant, unworkable, or simply inadequate.