United States House of Representatives Washington, D.C. 20515 December 7, 2009 Dear Representative, We write to express our support for Sec. 4208 of the Consumer Financial Protection Agency (CFPA) Act, Title IV of H.R. 4173, which authorizes the CFPA to restrict or prohibit the use
The House of Representatives is scheduled to vote this week on H.R. 4173, the Wall Street Reform and Consumer Protection Act of 2009. Read our letter of support for this bill here. The banks and others who created the financial meltdown are working hard to
When a financial institution fails, only insured depositors should be rescued by the government. Bailouts for other parties, such as shareholders and bond holders, are an unacceptable use of the public treasury to rescue private risk-takers, functioning as little more than wealth transfers from poor
The National Association of Consumer Advocates (NACA) explains why auto dealers must be covered by the Consumer Financial Protection Agency (CFPA). Download this information as a PDF. While the vehicles themselves have never been better, predatory auto sales and financing practices have never been worse.
Press Release CONTACT: Doug Gordon, (202) 822-5200 x237 LEADING FINANCIAL REFORM COALITION POSES QUESTIONS FOR FED CHIEF BERNANKE Continued Bank Control of Regional Fed Banks Comes Under Fire Will “Too Big to Fail” Taxpayer Bailouts of Reckless Big Banks Remain Policy? Americans for Financial Reform
They bring signs, banners, leaflets, and stories of foreclosures and unemployment. Individually, they’re mothers, fathers, retirees, hard workers who are in between jobs. Together, they’re a force to be reckoned with, as local AIG and Goldman Sachs offices recently discovered. They’re the consumers organized by
BanksterUSA.org has made the clever video below using everyone’s favorite holiday movie, “It’s a Wonderful Life,” to remind us of the woes facing many families this holiday season. In the midst of so much foreclosure, debt, and job loss, whose side are your representatives in
Unregulated derivatives trading were a major cause of the economic crisis and loss of homes, jobs and retirement savings. Inadequate regulation of derivatives was also a major contributor to last years energy price bubble. The volume of derivatives trading is enormous. According to the International
The Center for Responsible Lending warned consumers this Black Friday to watch out for overdraft loans. Every day, consumers lose $65 in overdraft fees to banks. As CRL explains: At $24 billion per year in fees, unfair overdraft practices transfer funds from the accounts of
The New Republic published this article detailing how Members of Congress have shifted their thinking on derivatives – and for once, the shift benefits Main Street rather than Wall Street. The article cites pressure from Americans for Financial Reform as one of the reasons for