CFA Handicaps Senate Markup

Posted on March 22, 2010

Consumer Federation of America is publishing a “cheat sheet” on the Senate Banking Commitee’s markup of financial services reform legislation, pointing out “who wins and who loses” on major amendments pending before the committee, which begins its markup this week.

 “Recklessness among big banks and Wall Street firms and regulatory failures by federal agencies triggered a prolonged recession that continues to cause great hardship for many Americans,” said CFA Legislative Director Travis Plunkett.  “The American people are looking to the Senate to strengthen consumer and investor protections and restore the safety and soundness of the financial system by closing gaps in the regulatory system.” 

The purpose of the “scorecard” is to help consumers and others understand who and what interests are behind the plethora of amendments that have been registered in advance of the mark up.

 “Americans need to know who’s on their side and who is offering amendments that will leave them vulnerable to dangerous gaps in our regulatory system for which consumers and taxpayers have had to foot the bill,” said Susan Weinstock, Financial Reform Campaign Director for CFA.  “We strongly encourage all Americans to follow this debate and let their Senators know how they feel about the positions their members are taking.”

The scorecard will be updated on the CFA website.  Check often to find out who stands to win and who stands to lose from the Senate commitee’s actions.