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Latest Fact-Checks In Financial Regulation

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Elijah Cummings
Elijah Cummings
stated on May 24, 2011 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
Sergio Marchionne
Sergio Marchionne
stated on May 24, 2011 a press release
"Less than two years ago, we made a commitment to repay the U.S. . . .taxpayers in full, and today we made good on that promise."
Half-True
May 26, 2011
Marcy Kaptur
Marcy Kaptur
stated on November 23, 2010 an MSNBC interview
"Six institutions in our country now control two thirds of the capital."
False
By Sabrina Eaton • January 28, 2011
Mike Pence
Mike Pence
stated on July 15, 2010 a press release
The financial regulatory bill "will kill jobs."
Mostly False
By Louis Jacobson • January 21, 2011
Bumper Sticker
Bumper Sticker
stated on December 20, 2010 Washington, D.C.
"CEOs now earn 431 times what their workers earn."
Half-True
By Martha M. Hamilton • December 21, 2010
Glenn Grothman
Glenn Grothman
stated on November 13, 2010 a newspaper article
The payday loan industry "does not exist in a state like Minnesota."
False
November 28, 2010
Virginia Tea Party Patriots
Virginia Tea Party Patriots
stated on November 15, 2010 a letter to Congress.
Since the Fed was created in 1913, "the U.S. Dollar has lost 98% of its purchasing power." 
Half-True
By Wes Hester • November 24, 2010
John Boehner
John Boehner
stated on November 3, 2010 a news conference
Says that the new financial services law requires 358 regulatory filings.  
True
By Sabrina Eaton • November 9, 2010
Barack Obama
Barack Obama
stated on October 27, 2010 an interview on Comedy Central's "Daily Show with Jon Stewart"
Stabilizing the recent financial crisis "will cost less than 1 percent of GDP," which is less than the 2.5 percent to fix the savings and loan crisis of the 1980s.
Half-True
By Louis Jacobson • October 28, 2010
Rick Scott
Rick Scott
stated on October 25, 2010 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
Alex Sink
Alex Sink
stated on October 25, 2010 a CNN/St. Petersburg Times debate.
The lawyer who brought the case against NationsBank said "publicly that Alex Sink had nothing to do with the case, had nothing to do with the situation and didn't know about the problems."
Mostly True
By Aaron Sharockman • October 26, 2010
Glenn Nye
Glenn Nye
stated on August 12, 2010 a TV ad
 Says he "voted no on the Wall Street bailouts."
Mostly False
By Warren Fiske • October 25, 2010
Kurt Schrader
Kurt Schrader
stated on October 10, 2010 a radio show
Says more Republicans than Democrats voted for the Wall Street bailouts.
False
By Ian K. Kullgren • October 18, 2010
Republican Party of Florida
Republican Party of Florida
stated on September 27, 2010 a campaign ad
"Newspapers say Florida made bad investments, lost hundreds of millions of dollars, billions in pension funds lost. Who was in charge of Florida's investments? Alex Sink."
Half-True
By Angie Drobnic Holan • October 6, 2010
Rick Scott
Rick Scott
stated on September 27, 2010 a TV ad.
"Alex Sink funneled three quarters of a million dollars in no-bid contracts to Bank of America."
Mostly False
By Aaron Sharockman • October 5, 2010
Patriot Majority PAC
Patriot Majority PAC
stated on August 17, 2010 a campaign commercial
The Chilean "privatization scheme" that Sharron Angle supports "has resulted in hidden fees, fewer benefits, and millions of people with no coverage."
Mostly False
By Louis Jacobson • October 4, 2010
Phil Gingrey
Phil Gingrey
stated on September 25, 2010 a CNN interview
The federal government can tell General Motors what to charge for its automobiles.
False
By Eric Stirgus • October 4, 2010
Loranne Ausley
Loranne Ausley
stated on August 12, 2010 a web ad.
"(Jeff) Atwater's bank was so weak that just a few months ago it was shut down by the FDIC."
Half-True
By Aaron Sharockman • August 27, 2010
Kendrick Meek
Kendrick Meek
stated on August 11, 2010 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
Pam Bondi
Pam Bondi
stated on July 31, 2010 a Bay News 9/CFN 13 debate.
Mortgage fraud is "up 400 percent in the last five years."
Mostly True
By Aaron Sharockman • August 2, 2010
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