Yesterday afternoon, President Obama signed the landmark Wall Street reform bill.
One crucial provision is the creation of a new Consumer Financial Protection Bureau to crack down on predatory lenders and defend consumers from the banking industry’s most abusive practices.
But we can’t rest yet. Without someone heading the agency with the courage and commitment to enforce new consumer protections, the reforms could end up as little more than symbolic.
There’s one clear choice: Elizabeth Warren, the brilliant and dedicated Harvard lawyer who invented the idea of the new consumer watchdog, and an outspoken advocate for the middle class. Wall Street’s afraid of her, and with good reason.
**Want to make sure our Senators hear us? Spread the word by sharing on Facebook or by forwarding this email.
Nominees to lead the new Bureau will have to be confirmed by the Senate Banking Committee, which is chaired by Senator Dodd. And Senator Lieberman’s vote will be critical to confirmation.
That’s why our Senators need to hear from you. When Wall Street big shots were calling to eliminate the CFPB, you spoke out. And our state’s congressional delegation listened, voting unanimously for the Wall Street reforms.
We can’t stop now. If we want the CFPB to be able to fulfill its mission — to fearlessly stand with consumers against the most dangerous and deceptive products the banking industry can dream up — then we need Elizabeth Warren at the helm.
We only need to look as far as the BP oil spill in the gulf and the corruption at the Minerals Management Service to know how dangerous it can be when regulators are too cozy with the industry they’re supposed to regulate.
It’s time to keep the pressure on and make sure Wall Street doesn’t derail the new Consumer Financial Protections Bureau before it even gets started. Let’s put Elizabeth Warren in charge.
Please sign our emergency petition to Senators Dodd and Lieberman to put Elizabeth Warren in charge of the Consumer Financial Protections Bureau.
http://salsa.wiredforchange.com/o/1306/t/6722/p/dia/action/public/?action_KEY=2142
And please help us spread the word. You can share this action on Facebook or just forward along this email to friends and family.
PS. If you want to hear Elizabeth Warren in action, check out this spot on WNPR’s Where We Live where she makes the compelling case for new consumer financial protections. And then don’t forget to sign emergency petition.