The need for reform, is obvious to everyone on the planet -except the financial industry. The like keeping things just the way there are. The financial industry is overseen by eight agencies and each agency has multiple responsibilities -none of which prevented the mortgage crises, credit crunch or collapse of the entire financial system.
With a single agency whose sole focus is protecting American families from financial ruin but the industry is fighting their hardest to block it, claiming the rules would be expensive and impractical. Really? Yes, really! And they wonder why American consumers are mad as hell, at their mortgage servicers, credit card companies -and following Ann Minch's call for a Debtors' Revolt!
What are financial lobbyists really worried about? Why are they spending millions of dollars in false advertising to block the consumer protection agency from becoming a reality -or weakening? Tell your legislators we need accountability on Wall Street -and fairness on Main Street!
A Consumer Financial Protection Agency would dramatically cut down on predatory lending and abusive lending practices, those tricks and traps that make billions of dollars for the lending industry at the expense of consumers.
The House Financial Services Committee is set to vote on this important issue next week
Write to your elected officials today to make sure your voice is heard before they cast their vote.
END PREDATORY & UNFAIR PRACTICES: Close the loopholes!