Coalition Urges Congress to Take on Big Banks and Protect Consumers

FOR IMMEDIATE RELEASE CONTACT: Doug Gordon, 202-822-5200 DATE: October 7, 2009 Americans for Financial Reform: Congress Needs To Take On Big Banks, Protect Consumers Draft Legislative Language On Derivatives Is Not Enough; All Transaction Need to Be Transparent Washington, DC – Americans for Financial Reform

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Washington Post: Battle Waged Over Consumer Agency

click here for link Thursday, October 1, 2009 For more than three hours Wednesday, supporters and opponents of a new federal agency that would oversee mortgages, credit cards and other consumer financial products dug deeper into their trenches in Room 2128 of the Rayburn House

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The New York Times: Reforming the Financial System

The New York Times ran this excellent editorial on September 13, 2009. Here’s an excerpt explaining the need for a strong Consumer Financial Protection Agency (CFPA): CONSUMER PROTECTIONThe financial crisis would have been less severe — or largely avoided — if regulators had curbed abusive

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The House

The House of Representatives passed H.R. 4173, the Wall Street Reform and Consumer Protection Act, on December 11, 2009.  Read AFR’s statement on its passage below. Read all of our posts about the battle in the House here. Read more about the battle in the House:

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The Senate

The Senate passed S. 3217, the Restoring American Financial Stability Act, on May 20, 2010.  Read AFR’s statement about its passage below.  Read all our posts about the battle in the Senate here. Read more about the battle for reform in the Senate: General letters and miscellaneous topics

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The Conference Committee

A House and Senate Conference Committee met in June 2010 to hammer out the differences between their versions of financial reform bill.  On June 29, they issued their final report which was subsequently passed by both chambers and signed into law by President Obama. Below