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On Thursday, May 2nd, the Revolving Door Project, in conjunction with the Demand Progress Education Fund and Color for Change, submitted a comment to the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve System Board of Governors regarding the proposed merger between Branch Banking and Trust Company (BB&T) and SunTrust Bank. This comment raised numerous concerns related to the implications of this merger, the largest since the financial crisis, and the integrity of the process by which it will be approved. We believe that these concerns warrant an elevated level of scrutiny for this merger.

Dear Speaker Pelosi,
We are writing you as organizations who believe that fairness and equity in both the writing and implementation of tax law is of critical importance. Our commitment to fairness is why we urge you to take every available step to ensure that the House Ways and Means Committee fulfills its Constitutional obligation to provide stringent oversight. 

Dear Inspector General Wertheimer and Inspector General Thorson:

We write to request an investigation into whether officials at the Federal Housing Finance Agency (FHFA) or Office of the Comptroller of the Currency leaked information about the agency’s plans regarding reform to the Government Sponsored Entities (GSEs) with intent to manipulate markets for the benefit of investors in preferred and common shares. Sharing this confidential, market-moving information with the intent of benefiting Fannie Mae and Freddie Mac’s shareholders would represent a breach of securities law.