FOR IMMEDIATE RELEASE
Published July 21, 2009 5:06 PM

Marcus Mrowka, 202-730-7759, marcus.mrowka@seiu.org

Congress Must Not Buckle to Corporate Interests on Financial Reform

WASHINGTON, DC— Today, the Service Employees International Union released a statement from Secretary-Treasurer Anna Burger following reports that Congress is delaying action on the Consumer Financial Protection Agency following lobbying efforts and a letter from the U.S. Chamber and big banks.

“When it comes to fixing our economy, Congress must not buckle under the pressure of the U.S. Chamber and big banks. Remember, its taxpayer bailouts that are paying for corporate America’s army of lobbyists clad in Armani suits.

“And its taxpayers who voted last November for leaders who will help restore economic progress for Main Street, not just Wall Street.

“On every major initiative to help restore our economy, from healthcare to financial reform to the Employee Free Choice Act, banks and corporations have the same mantra–we need to wait, now’s not the time, action now will hurt the economy.

“But if not now–with states and American families facing record financial misery–then when?

“Big banks and CEOs didn’t mind quick action from Congress when they were begging for billion dollar bailouts. Now that they’re flush with cash they want to stifle recovery for the rest of us and hang on to the same reckless business practices that toppled our economy in the first place.

“It’s past time for the U.S. Chamber and big banks to stop thinking about their next bonus or the latest and greatest way to scam consumers and taxpayers and really commit to being a partner in our country’s economic recovery.”

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