Business for Shared Prosperity

By Ryan McCarthy
Huffington Post, 3/10/10

The opponents of the Obama administration's proposed Consumer Financial Protection Agency apparently have very little competition in the Google AdWords space.

By Jackie Nash, Daily Reporter Staff Writer
Daily Court Reporter, March 9, 2010

Business organizations and interested parties statewide are backing national efforts encouraging U.S. senators to help bolster businesses and consumers by creating a Consumer Financial Protection Agency.

Discussions about establishing the CFPA have been in the works since last year when President Barack Obama first proposed the agency's creation.

By Kathleen Pender
San Francisco Chronicle, March 7, 2010

One of the most contentious issues in Congress, after health care, is the proposed creation of an independent consumer protection agency for financial products such as bank accounts, credit cards, mortgages and some student and auto loans.

Many Democrats and consumer groups say the Federal Reserve and other regulators were so focused on bank profits and balance sheets that they allowed the spread of destructive consumer products - such as subprime and pick-your-payment mortgages - that nearly collapsed the financial system.

Herald News (NJ), 3/5/2010

Op-Ed By Lya Sorano
The Hill, 3/4/10

Over the past year, financial institutions have put extraordinary pressure on small businesses. They have slashed lines of credit, increased interest rates even for customers that always pay on time, and mailed out more and more reams of incomprehensible fine print that even good lawyers can’t understand.

By ubetchaiam
Firedoglake Seminal, March 4, 2010

We have all heard about the political pull the Chamber of Commerce has.

Well,here’s a little tidbit I came across: "The U.S. Women’s Chamber of Commerce, which supports a strong CFPA, has more members than the U.S. Chamber of Commerce, which does not. The U.S. Women’s Chamber has 500,000 members, most of them small businesses, while the U.S. Chamber has only 300,000 members."

By Carol Tice
Entrepreneur, March 2, 2010

Scratch Pad with Scott Jagow
Marketplace, March 2, 2010

It appears Senators are close to a deal on financial regulatory reform. But as I reported yesterday, this deal would put the Consumer Financial Protection Agency in the hands of the Federal Reserve’s bank regulators instead of making it a stand-alone agency. The question now is: Will the president and others fight for an independent CFPA?

By: David Dayen
Firedoglake, March 2, 2010

Chris Dodd, currently in the bargaining stage on financial reform, has bargained down the Consumer Financial Protection Agency entirely down to nothing. I mean literally nothing.

The chairman of the Senate banking committee is seeking Democratic support for a Republican proposal to house a new consumer-protection regulator inside the Federal Reserve, a compromise that could clear the way for bipartisan legislation on financial reform, according to sources familiar with the negotiations.

By Julie Mason, White House Correspondent
Washington Examiner, March 2, 2010

The White House may be willing to compromise on creating a new consumer financial protection agency, as lawmakers debate watered-down alternatives to the administration proposal.

President Obama has been pushing to create the Consumer Financial Protection Agency to oversee credit cards and loans, as part of a larger overhaul of financial regulation in the wake of the 2008 banking meltdown.