- b.c.,
A letter from Consumer's Union:
Dear [consumer],
Protecting you from financial scams, outrageous banking fees, and shoddy mortgages shouldn't be political.
But this week in the U.S. Senate, politics could trump your financial rights.
The nomination of Richard Cordray to head the Consumer Financial Protection Bureau is expected to come up soon in the Senate. And a block of Republicans are vowing to stop the vote until they can weaken the watchdog's authority!
For more than a year Richard Cordray has successfully led the new Consumer Financial Protection Bureau, not only holding the banks accountable, but going after the giant credit reporting and student loan industries, too. He got millions back for consumers who were mislead, and proposed tough rules on mortgage lenders.
But this success is rubbing the financial lobbyists the wrong way. They want to weaken our watchdog by replacing the director with a five-member commission, and let other bank regulators (the same ones who failed to prevent the economic meltdown in the first place) block the bureaus actions.
When Cordray's nomination comes up this week, Senators who want to weaken the bureau are expected to refuse to bring it to a vote an overused tactic that lets a minority of Senators prevent a vote on issues of national importance.
Let's flood the Senate with a tidal wave of constituent messages demanding the watchdog we were promised. Please take action, then forward this to as many people as you can so they can act too.
Sincerely,
Pamela Banks, DefendYourDollars.org
Consumers Union, policy and action from Consumer Reports
see:
https://secure.consumersunion.org/s...id=2755&JServSessionIdr004=74j0ox1pe4.app243a
Dear [consumer],
Protecting you from financial scams, outrageous banking fees, and shoddy mortgages shouldn't be political.
But this week in the U.S. Senate, politics could trump your financial rights.
The nomination of Richard Cordray to head the Consumer Financial Protection Bureau is expected to come up soon in the Senate. And a block of Republicans are vowing to stop the vote until they can weaken the watchdog's authority!
For more than a year Richard Cordray has successfully led the new Consumer Financial Protection Bureau, not only holding the banks accountable, but going after the giant credit reporting and student loan industries, too. He got millions back for consumers who were mislead, and proposed tough rules on mortgage lenders.
But this success is rubbing the financial lobbyists the wrong way. They want to weaken our watchdog by replacing the director with a five-member commission, and let other bank regulators (the same ones who failed to prevent the economic meltdown in the first place) block the bureaus actions.
When Cordray's nomination comes up this week, Senators who want to weaken the bureau are expected to refuse to bring it to a vote an overused tactic that lets a minority of Senators prevent a vote on issues of national importance.
Let's flood the Senate with a tidal wave of constituent messages demanding the watchdog we were promised. Please take action, then forward this to as many people as you can so they can act too.
Sincerely,
Pamela Banks, DefendYourDollars.org
Consumers Union, policy and action from Consumer Reports
see:
https://secure.consumersunion.org/s...id=2755&JServSessionIdr004=74j0ox1pe4.app243a