Action Alert: Stop The CFPA Gutting

Idaho Rep. Walt Minnick (D) is trying to abort the the Consumer Financial Protection Agency (CPFA). If you care about this agency getting established, call your Reps now (call1-877-445-1317 to get connected directly to your Reps office) and tell them to oppose the Minnick amendment to the Wall Street Reform and Consumer Protection Act of 2009”, H.R. 4173 that would strip out the provision creating the CFPA. UPDATE: The amendment was rejected, 222 to 208.

TALKING POINTS:

  • Meaningful financial reform must make the marketplace safer for everyday American consumers.
  • CFPA will ensure fairness and safety for American consumers.
  • Existing bank regulators failed to design and enforce fair rules on credit, and the results were devastating for American consumers —credit card tricks and traps that cost consumers billions of dollars, and abusive mortgages that cost families their homes.
  • The financial crisis demonstrates that unchecked abuse not only hurts individual borrowers, but also undermines the whole financial system.