In the News

 

By Chris Weigant

 

#6 Republicans don't support consumers

 

This is pretty stunning, even though the Senate can be counted on to ignore such nonsense. The House is working on a bill which would cripple the Consumer Financial Protection Bureau, and we find we cannot improve at all upon what Representative Gwen Moore had to say, in response:

 

H.R. 3193 seeks to eliminate "consumer" from the C.F.P.B.'s name and, quite possibly, their mission as well. Under the GOP bill, the newly established "Financial Product Safety Commission" would be a shadow of the Consumer Financial Protection Bureau. In our post-recession economy, families continue to struggle to make ends meet. Americans need jobs, not legislation putting their financial security back in the hands of Wall Street scammers. The C.F.P.B. has already refunded $3 billion to 9.7 million victims of unfair, deceptive and abusive practices in financial markets. H.R. 3193 would make it more difficult to assist these victims.

When it comes to safeguarding the livelihood of our constituents, large financial institutions should not have a vote. I am very disappointed that my Republican colleagues chose to overpower the voice of Main Street with the voice of Wall Street.