November 16, 2016

Brown, Waters, Warren, Ellison Demand Financial Services Industry Condemn Bannon Appointment

Text of the letter available here (PDF)

Washington, DC - Today, Senator Sherrod Brown (D-OH), Ranking Member of the Committee on Banking, Housing, and Urban Affairs; Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services; Senator Elizabeth Warren (D-MA); and Congressman Keith Ellison (D-MN) sent an open letter to financial services trade groups demanding that they condemn the appointment of Stephen Bannon to President-elect Donald Trump's administration.

The Members noted that the Mr. Bannon's track record of bigotry runs counter to the values of the financial services industry and the country.

"As leaders in the business community, you have a moral obligation to speak out against this appointment as contrary to the values of this country and to the values of your industry," they wrote. "We urge you to condemn this appointment immediately and without reservation."

The letter highlights some of Mr. Bannon's most egregious comments about women, African-Americans, Hispanics, Jews and Muslims, as well as his ties to the white nationalist movement. It was sent to the American Bankers Association, Securities Industry and Financial Markets Association, The Clearinghouse, National Association of Federal Credit Unions, Investment Company Institute, Financial Services Roundtable, Independent Community Bankers of America, Credit Union National Association, Mortgage Bankers Association, Consumer Bankers Association, American Investment Council, American Financial Services Association, Community Financial Services Association of America, Community Home Lenders Association, Community Mortgage Lenders of America.

"You have influence over the conduct of the next Administration and a clear opportunity to announce unequivocally that the banking and finance industry will not tolerate bigotry and prejudice," the letter states. "What message will it send to your customers and employees if you remain silent?"

A PDF copy of the letter is available here.