CFPA Round 2: the Senate Challenge
Now that the Wall Street Reform and Consumer Protection Act has made it past the House, it still has to survive the Senate before it can actually begin to help consumers. The Senate fight has been made even more complicated by the announcement that Senator Chris Dodd will not seek reelection when his term ends. You can find out more about his departure by reading this recent press release from Americans for Financial Reform.
As with the House bill, the Senate bill is facing hefty opposition from the banks. This is their last chance to influence this monumental legislation and try to kill the Consumer Financial Protection Agency. For that reason, we’re starting our work early and asking you to write to your Senators today and ask them to support financial reform and the Consumer Financial Protection Agency.
We expect that consumer protection opponents will introduce legislation to gut the CFPA and make it useless, just as they tried to do in the House. Luckily, they failed that time and we’re working to make sure they fail again. Do your part by signing our petition today!