Tell Congress to Restore Consumer Protections; Sign Petition in Support of Consumer Watchdog Agency

| 1 Comment | No TrackBacks
Congress is considering creating a Consumer Watchdog agency!   It's obvious that we need reform and oversight in the financial arena if we can ever hope to stop fraud and predatory lending practices from bringing our economy to its knees ever again. 

Right now, no government regulator has consumer protection as its main mission.  A Consumer Watchdog agency would exist just for this purpose, and would regulate credit cards, mortgages, small loans, and other financial products.

The need for a Consumer Watchdog agency is all too clear.  One in five sub prime mortgages will end with the family losing their home.  The government would never let stores sell toasters that had a one in five chance of bursting into flames and burning down your house.

 Why should mortgages be any different, especially when so much is at stake? 

Why should mortgage servicing companies be allowed operate without a check and balance system, or rules and regulations in place to deter mortgage servicing fraud?

A Consumer Watchdog agency would ban products that don't meet safety requirements, and ensure a level playing field between lenders and borrowers. Now there's a concept! 

The system we have now isn't working! 

Tell Congress to create a Consumer Watchdog agency. For too long, the rules of Wall Street have been written by the bankers themselves and the chicken coop guarded by the fox.
This year, that has to change.
Americans for Financial Reform a newly launched coalition of nearly 200 national, state and local consumer, employee, investor, community and civil rights organizations have come together to spearhead a campaign for real reform in our banking and financial system. For more info click here

Americans for Fairness in Lending has initiated a petition drive at to continue their efforts to fight predatory lending practices.

Sign the petition to create a Consumer Watchdog Agency that will be delivered to your legislators.

Check out Americans For Financial Reform and add your voice.

No TrackBacks

TrackBack URL:

1 Comment

U.S. Code Title 18 Chapter 47 Section 1005,1006,1010,and 1014 In short says, a broker , lender or employee of a financial institution will be charged for defrauding or falsifying docs. No where does it say the homeowner to be charged. More lies. Why? Because a homeowner doesn't have the employeed power to enforce a contract.

If a home owner lied about his debts then they risk their own finances. But the broker had my bank statements, taxes from my acountant, and my credit report, how was it possible to lie about my income.

Title 12 Chap. 29 Section 2803 (6) loan application must be on file for 4 years. Where 's my loan app. Show me where I lied.

Tittle 12 Chap.27. Sec. 2604 Special Information Booklet. Did you ever see one?
A client signs the docs., just as they sign the docs. allowing a doctor or mechanic to perform their duties. Your not responsible if your doctor performs a sugery you didn't request. Your not responsible if your car breaks down pulling out of the shop. We have laws protecting the consumer. They're just being ignored.

Leave a comment

A memoir exposing the steep price consumers pay when facing mortgage servicing errors, inaccurate credit reporting, illegal debt collection practices, identity theft and weak consumer protection laws. THE BOOK » DENISE'S STORY »