Business for Shared Prosperity

Contact: Bob Keener at 617-610-6766 or bobkeener [at] businessforsharedprosperity [dot] org

By Michael R. Crittenden, Feb 4, 2010
Dow Jones Newswires

WASHINGTON -(Dow Jones)- A separate U.S. agency to regulate the financial products marketed to consumers makes sense, a former chairman of Citigroup Inc. told lawmakers Thursday.

John Reed, speaking before the Senate Banking Committee, broke with much of the banking industry by supporting the idea of a single agency to deal with mortgages, credit cards and other similar products.

Business owners urge Senate to approve Consumer Financial Protection Agency
Staff report
Biz570.com/ Northeast Pennsylvania Business Journal, February 4, 2010

As the Senate considers financial reform, business owners and executives across the nation organized by Business for Shared Prosperity are calling for a strong, independent Consumer Financial Protection Agency (CFPA) to safeguard businesses, consumers and the American Dream.

By Michael R. Crittenden,
DOW JONES NEWSWIRES, Feb 4, 2010

(Updates with comment from business groups)

WASHINGTON -(Dow Jones)- A separate U.S. agency to regulate the financial products marketed to consumers makes sense, a former chairman of Citigroup Inc. (C) told lawmakers Thursday.

John Reed, speaking before the Senate Banking Committee, broke with much of the banking industry by supporting the idea of a single agency to deal with mortgages, credit cards and other similar products.

US Women's Chamber of Commerce, American Business Leaders for Financial Reform, Small Business Owners Nationwide Call for Strong CFPA

Contact: Shonna Carter or David Lerner, Riptide Communications, 212.260.5000

Washington, DC, Feb. 3, 2010-As the Senate considers financial reform, business owners and executives across the nation organized by Business for Shared Prosperity are calling for a strong, independent Consumer Financial Protection Agency (CFPA) to safeguard businesses, consumers and the American Dream.

Portland Business Journal, Jan 29, 2010
By Kent Hoover, Washington Bureau Chief

Legislation creating the Consumer Financial Protection Agency could make credit more expensive and harder to get, opponents of the bill contend.

The CFPA is one of the main pieces of the financial regulatory reform bill now before the Senate Banking Committee. The house bill passed on Dec. 11 in a 223-202 vote.

Main Street Alliance, Policy Pulse: Small Business Views on Financial Reform

U.S. Women's Chamber of Commerce Endorses the Consumer Financial Protection Act

Small Businesses Will Benefit from Financial Regulatory Reform

Based on a survey of 1,237 small business owners from 13 states, this report assesses participating small businesses’ experiences with the economic recession and evaluates Main Street business owners’ views on financial reform. The survey found strong support among participating small business owners for financial reform and creation of a consumer financial protection agency.

See Full Report at
http://mainstreetalliance.org/wordpress/wp-content/uploads/MSPP_financia...

SmartBrief, 12/22/09

The U.S. Women's Chamber of Commerce has come out in support of the creation of a federal Consumer Financial Protection Agency even though the Chamber of Commerce and some other business organizations oppose it. Margot Dorfman, CEO of the women's business group, said she believes the federal agency would protect small businesses. "Business owners and consumers need the security of knowing that the costs and risks of financial products, services and lending are fully and fairly disclosed." American City Business Journals/Washington, D.C. (12/21)

Washington Business Journal, Dec 21, 2009
By Kent Hoover, Washington Bureau Chief

Legislation creating the Consumer Financial Protection Agency could make credit more expensive and harder to get, opponents of the bill contend.