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Latest Fact-Checks In Financial Regulation

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Richard Ojeda
Richard Ojeda
stated on November 27, 2018 in a tweet:
At General Motors, CEO Mary Barra "took home almost 22 MILLION DOLLARS last year alone (295x your company's average employee)."
True
By Liz Newton, Jamie Green, Kenna Richards, Patrick Orsagos • December 6, 2018
Richard Cordray
Richard Cordray
stated on May 17, 2018 in a tweet:
"Ohio's (payday lending) laws are now the worst in the nation. Things have gotten so bad that it is legal to charge 594 percent interest on loans."
True
By Amy Sherman • June 8, 2018
Bernie Sanders
Bernie Sanders
stated on February 11, 2016 in comments during the PBS Democratic debate:
"The African-American community lost half of their wealth as a result of the Wall Street collapse."
True
By Linda Qiu • February 12, 2016
Hillary Clinton
Hillary Clinton
stated on July 13, 2015 in remarks in Manhattan:
Says she "called for addressing risks of derivatives, cracking down on subprime mortgages and improving financial oversight" early on in the financial crisis.
True
By Lauren Carroll • July 15, 2015
Seth Magaziner
Seth Magaziner
stated on April 13, 2014 in an appearance on “10 News Conference”:
"In Rhode Island today, 25 percent of our households either don't have a bank account at all, or they have a bank account and they're still relying on high-cost financial services like payday loans, pawn shop check cashing and so on."
True
By C. Eugene Emery Jr. • April 21, 2014
Tom Price
Tom Price
stated on August 14, 2013 in Twitter posts:
Americans spend more than $160 billion and 6 billion hours per year complying with the tax code.
True
By Janel Davis • September 4, 2013
Bill Weimer
Bill Weimer
stated on June 26, 2012 in a newspaper column:
"Fireworks have never been safer, and their use continues to increase each year."
True
By Tom Feran • July 4, 2012
Sherrod Brown
Sherrod Brown
stated on December 7, 2011 in a Senate banking subcommittee hearing:
Richard Cordray’s nomination to head the Consumer Financial Protection Bureau marks the first time in Senate history "that a political party has blocked a nomination of someone because they didn't like the construction of the agency."
True
By Stephen Koff • December 12, 2011
Bernie Sanders
Bernie Sanders
stated on October 4, 2011 in an interview with MSNBC:
"Today, you have six financial institutions, the largest six, that have assets that are the equivalent of 60 percent of the GDP of the United States of America."
True
By Louis Jacobson • October 6, 2011
Dennis Kucinich
Dennis Kucinich
stated on September 7, 2011 in a television interview:
"The Fed created $1.2 trillion out of nothing, gave it to banks, and some of them foreign banks, so that they could stabilize their operations."
True
By Peter Krouse • September 28, 2011
Elijah Cummings
Elijah Cummings
stated on May 24, 2011 in a congressional subcommittee hearing:
The budget for the Consumer Financial Protection Bureau "is only about 1 percent of the amount banks generate just from late fees and overdraft fees."
True
By Louis Jacobson • June 8, 2011
John Boehner
John Boehner
stated on November 3, 2010 in a news conference:
Says that the new financial services law requires 358 regulatory filings.  
True
By Sabrina Eaton • November 9, 2010
Rick Scott
Rick Scott
stated on October 25, 2010 in a CNN/St. Petersburg Times debate.:
"Your tellers were paid kickbacks for directing elderly consumers from ... safe deposits to risky ones."
True
By Aaron Sharockman • October 26, 2010
Kendrick Meek
Kendrick Meek
stated on August 11, 2010 in a TV ad.:
"Warren Buffett called credit default swaps financial weapons of mass destruction. And Greene was the first individual to use them."
True
By Aaron Sharockman • August 18, 2010
Sherrod Brown
Sherrod Brown
stated on April 25, 2010 in an interview on "This Week.":
"Fifteen years ago, the assets of the six largest banks in this country totaled 17 percent of GDP ... The assets of the six largest banks in the United States today total 63 percent of GDP."
True
By Angie Drobnic Holan • April 27, 2010