Small business owners urge consumer bureau to preserve and enforce the rule, protect consumers against payday lending debt trap
WASHINGTON, DC - Congressional Review Act (CRA) resolutions—S.J. Res 56 and H.J. Res 122—to repeal the Consumer Financial Protection Bureau’s (CFPB or consumer bureau) payday and car title lending rule will not advance in Congress, as their legislative clock expired yesterday. The CFPB rule, finalized in October, establishes basic consumer protections on these 300% or more interest loans, including the common-sense standard that lenders should have to verify a borrower’s ability to repay before making the loan. Consumer and civil rights advocates, including the Main Street Alliance, are urging the consumer bureau to keep intact the rule, which is set to into effect summer 2019, and to fulfill the bureau’s responsibility to enforce the law.
The CRA is a fast-track legislative tool that allows lawmakers to undo federal regulations years in the making without public hearings with a simple majority vote in both the House and Senate. If invoked, the CRA prohibits a federal agency—like the consumer bureau—from rolling out regulations substantially the same as those it reversed. Since neither chamber brought the payday rule resolutions to a vote during the limited time allotted for a CRA challenge, the important rule was not overturned.Read more
FOR IMMEDIATE RELEASE: May 9, 2018
ASBC Contact: Bob Keener, 617-610-6766, firstname.lastname@example.org
Engine Contact: Evan Engstrom, 415-570-4455, email@example.com
Main Street Alliance Contact: Angela Simaan, firstname.lastname@example.org
Small Business Majority Contact: Simon Brown, 202-535-3229, email@example.com
Washington, DC – In advance of today’s expected U.S. Senate discharge petition to reverse the Federal Communications Commission’s repeal of net neutrality protections, businesses and business groups released statements supporting net neutrality and the action by Senators Markey and Schumer.
WASHINGTON, DC -- Ahead of the Senate Finance Committee’s hearing today, ‘Early Impressions of the New Tax Law,’ and in response to the nonpartisan Joint Committee on Taxation’s report for the hearing, Amanda Ballantyne, National Director of the Main Street Alliance, a network of small business owners, released the following statement:Read more
ST PAUL, MN – On Tax Day this year, paying less in taxes isn’t a priority for the Minnesota business owners who gathered at the State Capitol to express their concerns to legislators.Read more
Main Street Alliance & MomsRising Join Small Businesses Across the Country to Mark Equal Pay Day & Highlight Pay Gap Statistics
Coffee Sleeves and Napkins at More than 30 Small Businesses Feature Gender Pay Gap Statistics to Show Importance of Equal Pay and Paid Leave for All
That’s how much women in the US lose collectively each year to the wage gap. What would you do with your share of that $840 billion? I can think of a few things!
If your answer didn’t involve chocolate, here’s some math to consider: each year, the average woman would be able to afford 15 more months of child care or 78 more weeks of food for her family if the wage gap didn’t exist.
Women’s wages fuel our businesses, economy, and most importantly -- working families.Read more
WASHINGTON, DC --- In response to the spending bill introduced in the US House late last night, Amanda Ballantyne, the National Director of the Main Street Alliance, a national network of small business owners, released the following statement:
Trump-Republican Tax Giveaway Impact on Main Street Small Business Owners
Summary of Trump-Republican Tax Giveaway
Republicans jammed through the Trump-Republican Tax Giveaway to give a massive tax cut to wealthy donors and big corporations at the expense of Main Street. It balloons the federal deficit by $1.5 trillion, gives billions of dollars in tax breaks to corporations to outsource jobs, leaves 13 million Americans without health coverage, and Republicans want to pay for it with trillions of dollars in cuts to Social Security, Medicare, Medicaid, education and other critical programs small business owners and our communities rely on.
Sanders Will Headline Rally, joined by a Small Business Owner and Others Urging Constituents to Hold Republicans Accountable for Raising Taxes on Middle-Class Iowans