The ‘Consumer Financial Protection Agency’ has been proposed in Congress which will be a major overhaul of the financial industry to ensure more accountability, stability and protections for consumers. The core idea behind the proposal, supporters say, is to pull together consumer oversight powers that are now scattered among various agencies, and to put consumer interests where they should be -- much higher on the priority list than they were during the years leading up to the housing and credit bubble and bust. Here’s a great article in the LA Times that describes what this proposed agency would do: http://www.latimes.com/classified/realestate/news/la-fi-harney2-2009aug02,0,7083818.story
This week, the House of Representatives will vote on this. Send a message to your congressman now to support this legislation! You can do so at this link: http://action.citizen.org/t/6693/campaign.jsp?campaign_KEY=27546
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