Consumer Financial Protection Agency Under Attack by Ruthless Lobbyists

Elizabeth Warren wrote a guest post on Baseline Scenario, Three Myths about the Consumer Financial Product Agency. (click on link to read).

 

As noted yesterday by Pluto:

If the Consumer Financial Protection Agency is axed, we can expect health care "reform" to be toothless, as well. A weak consumer class and a health-compromised working class is the description of a non-emergent third world nation.

the financial consumer production agency is very much under attack by lobbyists. So, to that end, it's time to make a call to your representatives and tell them to support creation of this agency to fight back.

Lots of blogs we like are covering this, such as Calculated Risk

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Yup, the Fed is against the CFPA

As noted yesterday in the hearing on Capital Hill, the Fed is officially against the CFPA.

Talk about facts be damned! (anyone here think there isn't a slight problem with protecting consumers on bogus financial products or generally?)

Simon Johnson has written a piece on why the CFPA is so important, Why Banks Should Support a Consumer Financial Protection Agency

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