They’re out to weaken your rights – and your watchdog!

Our financial watchdog is under attack right now in the Senate. Without a confirmed director to hold them accountable, the financial industry can get away with a lot more tricks! Tell your Senators to hold the banks accountable!

Lax banking and mortgage oversight tanked our economy, so Americans like you demanded a real financial watchdog, not a bank lapdog.

You got one in the Consumer Financial Protection Bureau. In a little more than a year, this watchdog made the banks pay back $425 million to consumers they duped, made sure borrowers can pay back their loans, and demanded an end to hidden credit card fees.

But rather than being celebrated, your watchdog is under attack. A minority of Senators is holding up the CFPB director’s confirmation unless they can weaken his ability to protect the public – and turn him into a lapdog!

If you’re tired of these politics, email your Senators now and demand the accountability you were promised! 

For more than a year Richard Cordray has successfully led the CFPB, not only holding the banks accountable but going after the giant credit reporting and student loan industries. 

But this success is rubbing the financial lobbyists the wrong way. They want to weaken the bureau by subjecting it to the highly politicized and sluggish Congressional funding process; replace the director with a five-member commission; and let other bank regulators (those who failed to prevent the economic meltdown) veto the bureau’s decisions.

A block of Senators is holding up Cordray’s confirmation for a new term until they get these changes. And without a confirmed director, each of us is at greater risk of being scammed – the CFPB can’t exercise its full powers over payday lenders and certain mortgage operators, as well as student loan servicers and credit reporting agencies.

Email your Senators here and tell them you want a watchdog that holds the financial industry accountable!

The best way to stymie this plan is to flood the Senate with a tidal wave of constituent messages demanding the watchdog we were promised. Please take action, then forward this to as many people as you can so they can act too.

Sincerely,

Pamela Banks, DefendYourDollars.org
Consumers Union, policy and action from Consumer Reports