Let Elizabeth Warren Know What Is Your Top Priority For the New Consumer Financial Protection Bureau
WASHINGTON - The sweeping Wall Street Reform Bill that was signed into law this
summer calls for the creation of the Consumer Financial Protection
Bureau (CFPB). Just like other consumer regulators work to keep
dangerous products off the market, the CFPB’s job is to make sure
financial products and services don’t harm consumers or our economy.
This summer, almost 3,000 Bankster subscribers signed a petition to
President Obama asking him to appoint Elizabeth Warren to head the new
bureau. On September 17th, Warren was appointed by the president to get
the bureau on its feet and running. The new agency has not yet opened
its doors, but we wanted to give Warren and the new staff a little
guidance on what Americans think the agency’s top priorities should be
as it begins its work.
Here at Bankster,
we work closely with the reform coalition Americans for Financial
Reform. We hope you will take the AFR survey to let us know what
consumer financial issues you think the new agency should tackle first
and we will make sure the survey results are put on Professor Warren’s
A footnote: The election results do not bode well for reform. The new
House Banking Chair, Spencer Bachus, is already threatening to roll
back the Volcker rule and its ban on proprietary trading, so we will
have a lot of work ahead of us in the coming months. Thanks for staying
informed and involved!