Your elected officials are on a break from DC, but don't let them take a break from fighting for consumer protection!
While Congress is on summer recess, our elected officials have many issues to contemplate. This August, it's up to us to remind our Senators and Representatives about the need to keep efforts to end predatory lending high on the agenda.
Every day that goes by without a Consumer Financial Protection Agency is one more day of toxic mortgages, one more day of outrageous interest rates, one more day of unreasonable bank fees. It's time to stop the financial predators.
There is no time to waste. The House Financial Services Committee was originally supposed to vote on the CFPA before the August recess. Now, it's up to consumers like you to press for speedy action as soon as Congress resumes.
Write to your elected officials today and tell them to stand up for you and your neighbors by supporting a Consumer Financial Protection Agency.
We know that there are many issues up for consideration by Congress at the moment, but consumer protection can’t wait. Please do not allow the necessity of a CFPA to be overlooked.
For years, consumers have dealt with toxic mortgages, outrageous interest rates, and unreasonable bank fees. It’s time that there was an agency completely dedicated to protecting Americans from these dangerous financial products.
A Consumer Financial Protection Agency would have consumers’ well-being as its sole priority. It would have authority over the entire range of consumer financial products and companies, thereby bringing about the end to regulator-shopping and closing regulatory gaps that have provided niches for predatory lenders to escape oversight. And it would have the authority not only to write tough new rules, but also to enforce them.
By voting to establish a CFPA and to give it the authority and resources that it will need to do its job, you can help ensure that consumers are protected in the financial services marketplace.
Wall Street is trying hard to kill this initiative, citing the usual discredited platitudes. I urge you to stand with people like me rather than with the financial industry.
Please vote to create a Consumer Financial Protection Agency for the sake of your constituents, all consumers, and the American economy.