Press Releases
In the News
- The Hill: Lya Sorano, Consumer protection would help small businesses
3/4/10 - Entrepreneur: Is Consumer Protection Good For Small Business?
3/2/10 - Marketplace: Fighting for the CFPA
3/2/10 - Firedoglake: Dodd Proposal Would Place Consumer Protection Agency Right Where It Is Already
3/2/10 - Washington Examiner: Obama aims lower for financial reform package
3/1/10 - South Carolina Small Business Chamber of Commerce: Fixing the Small Business Lending Crisis
2/24/10 - New York Times: Administration Makes Push for Consumer Agency
2/23/10
Resource Spotlight
Financial Reform
Business Owners, Executives, Investors Sign-On Statement in Support of Consumer Financial Protection Agency
Click Here to SIGN the Statement
We, the undersigned business owners, executives and investors, support the creation of a strong Consumer Financial Protection Agency (CFPA). This will help restore consumer confidence in the economy and benefit business, especially small businesses, which create most of the nation’s new jobs. Small business owners often rely on credit from a variety of sources, including use of personal credit cards and home equity loans, to start, run and expand their businesses.
The financial crisis has demonstrated the need for a new independent federal agency to promote financial product safety and establish clear, enforceable rules of the road. Business owners and consumers need full and fair disclosure of the costs and risks of financial products and services.
Those pushing misleading products with hidden risks undercut lenders offering sound mortgages and other credit. Reckless credit practices fueled the economic crisis that has driven businesses into bankruptcy and homes into foreclosure, destroyed jobs and wealth, and severely undermined our communities and economic prospects. Many businesses that survived the initial meltdown are being hurt by credit cuts and denials, abrupt interest rate and fee hikes, and other financial practices.
A Consumer Financial Protection Agency will expose unsafe products and services and encourage accountability and fair competition. It will help ensure we do not repeat the reckless practices we are paying dearly for today. Consumers, businesses and our economy will be better off with the establishment of a strong CFPA.
