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Consumer Group Pushes Protection Agency

The Consumer Federation of America today cited the one-year anniversary of the collapse of Lehman Brothers and the financial problems it caused as a reason for a new agency to regulate financial products and other pro-consumer actions.

By Claude R. Marx | Updated on September 13, 2009

The Consumer Federation of America today cited the one-year anniversary of the collapse of Lehman Brothers and the financial problems it caused as a reason for a new agency to regulate financial products and other pro-consumer actions.

Abusive lending and shady financial practices by financial firms caused millions to lose their jobs, foreclosures to soar, home values to tank, and retirement and college savings to disappear,” said Travis Plunkett, CFA’s legislative director. “And yet, many of the same institutions that helped cause the financial meltdown are shamelessly trying to kill the President’s proposal to create a Consumer Financial Protection Agency.”

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