Do we need more proof Washington’s not working for middle class families? We got it once again this week.
The big banks and their army of lobbyists couldn’t stop the creation of a new Consumer Financial Protection Bureau, so now they are trying to undermine its work, enlisting their Republican friends on the Senate Banking Committee to stop the nomination of Richard Cordray to lead the agency — just to try to slow up the agency from doing its work.
It’s outrageous — and we’ve got to hold them accountable.
I’m starting a petition: Sign on now to call on the Republicans on the Senate Banking Committee to protect the interests of middle class families, to confirm a director for the Consumer Financial Protection Bureau, and to let the agency do its work.
The goal of this new agency is to protect consumers by ending the tricks and traps and fine print banks have used to make it hard to understand and compare the costs of mortgages and credit cards. We need to hold Wall Street accountable for issuing the kinds of deceptive loans that nearly brought our economy to its knees in 2008.
I fought hard for these new protections and faced an army of lobbyists to hold the banks accountable. I am proud to have been part of the David vs. Goliath effort that led to the passage of this new agency. I was also proud to help set up the new agency over the past year as an assistant to the President.
We’ve made a lot of progress toward fixing the broken credit markets and preventing the next crisis, but the enemies of reform are at it again.
It’s time for Republicans in the Senate to put the interests of hard working middle class families over the special interests of large financial institutions. We’ve got to speak out and make sure our fellow Americans know the truth.
We need clear rules to fix broken credit markets, protect consumers, and get our economy growing and creating jobs.
I’ve made my life’s work fighting for middle class families and pushing back against special interests. I know what it means to live one pink slip or one health crisis away from economic disaster, because I did. That’s why I’m working so hard to change things.
But I can’t do it alone. I need you to stand with me, today. I need you to make this an issue that the Republicans can’t duck.
And I’ll make sure the petition and our signatures get delivered to the Republicans on the Senate Banking Committee.
Thanks so much for your help.