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Please see my "Petition for a 'Consumer Financial Protection Agency'"

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clear eye Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-09-09 03:59 PM
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Please see my "Petition for a 'Consumer Financial Protection Agency'"
Edited on Fri Oct-09-09 04:34 PM by clear eye
which I wrote in conjunction w/ the campaigns of the White House and a slew of grassroots action groups and unions trying to get this thing off the ground. I know the resistance of Congress to heed us when we were out on the street across the country asking for limits, regulations, reforms and safeguards on the bank bailout has been disheartening. I know it was shocking to see that no legitimate economist was heard by the new administration before the 2nd half was granted. However if we don't support the efforts to create the Consumer Financial Protection Agency by the huge umbrella organization Americans for Financial Reform, which represents over 200 groups including the AFL-CIO and such strange bedfellows as AARP, ACORN, and Sojourners, it will be assumed that the citizenry has "gotten over it" and is accepting business as usual by the "too big to fail" financial institutions. And by "acting" I mean at the very least petitioning Congress and passing the petition along to anyone we think might act upon it.

Here is the link to the wording of the email I sent, but any wording will do. Language insisting on the threatened provision to allow states to enforce more restrictive regulations than the basic requirements of the CFPA is also important. Getting any appropriate group you may belong to, union, local CofC, etc., to sign on would be even better. Just have your group contact the umbrella group, Americans for Financial Reform. One of the banking abuses occurring now that hurts small business is that small local banks are being asked to contribute to the FDIC amounts equaling a greater % of their lending than the big banks do. These bullying tactics can derail any U.S. recovery.

So, please, some action here?
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