We need consumer protection agency

Most of the media attention is focused on health care reform, but most working families are still worried about staying in their homes and making their credit card payments.

While we worry about how to pay our bills, mortgage lenders and insurance companies are working to kill legislation in Washington that would help us get healthier financially. The same companies who brought the global economy to the brink of collapse with their reckless lending and poor management companies are pulling out all the stops to defeat HR 3126, the Consumer Financial Protection Agency Act.

This bill gives working women and men a fighting chance against the big guys and levels the playing field so that we'll know what we're buying and how much it costs. We should be able to sign a mortgage or apply for a credit card and understand the contract and the interest rates - not be afraid that there are hidden tricks that could lead us into bankruptcy. The Consumer Financial Protection Agency will put people first, not corporate interests.

Rep. Bill Foster is key to getting this bill passed into law. We call on Congressman Foster to strongly support this legislation. The TARP rescued many of our nation's banks and lending institutions; now consumers need relief as well. We need the Consumer Financial Protection Agency.

Ann Rodriguez

Director

Consumer Credit Counseling Service of Elgin