October 8, 2009 The Honorable Barney Frank Chairman Committee on Financial Services United States House of Representatives Washington, DC 20515 Re: School Loan Exemption in H.R. 3126 Consumer Financial Protection Agency Dear Chairman Frank: Thank you for your leadership in advancing legislation to create a
On October 7, USA Today ran this excellent opinion piece. Here’s an excerpt: New financial watchdog could curb abusive practices, limit fine print. In Washington, it’s always easier to kill a new idea than to promote one. And that’s what the banking industry is counting
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
The Philadelphia Inquirer ran this excellent opinion piece on August 3. Here’s an excerpt: Credit card and mortgage consumers need help to level the playing field. By Adam Benforado The $3-trillion-a-year consumer financial-services industry wants you to play a game with them, one on one.
Download this testimony as a PDF. Introduction: This testimony describes why we recommend that consumer protection for financial products and services be consolidated within a new federal Consumer Financial Protection Agency. A review of the history of consumer protection by the Federal Reserve and the
Harvard Professor Elizabeth Warren explains her idea of creating a Consumer Financial Protection Agency in this Business Week piece. Congress is considering legislation which would create such an agency. Here’s an excerpt from her article: President Obama’s proposed Consumer Financial Protection Agency would make loan
AFR’s Message Memo One-pager on the CFPA One-pager on Derivatives
Support Strong Protection for Consumers Consumer Financial Protection Agency Meaningful financial reform must make the marketplace safer for all Americans. It must include an independent Consumer Financial Protection Agency (CFPA) to ensure fairness and safety for American consumers. Without it, the reform effort will fail