Who Is Writing Our Proposed Consumer Protection Bill?
Who Is Writing Our Proposed Consumer Protection Bill? By: Gabriel Rodriguez
Recently the media has begun to criticize those involved in writing the consumer protection language for the proposed financial reform legislation, or Consumer Financial Protection Agency (CFPA). Although coverage has begun to gain steam in the last few weeks, possibly due to the fact that our Senate is currently attempting to strike a bipartisan agreement on key features of the sweeping bill, we are still not seeing this issue on the radar of mainstream media quite as much as Obama’s recently Healthcare reform bill. It seems that Democrats may have learned from this recent experience and are attempting to keep this issue quite, and slightly out of the view of the public. After all, whereas most American’s are very concerned about Healthcare reform for various reasons, a Financial Protection bill which will oversee regulation of not only big banks like Wells Fargo but even Payday Lenders such as Pay1Day.com is not of much interest or concern to the majority of American’s. Perhaps it should be, given who is writing the actual language behind the proposed bill.
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