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Financial Reform

News Release
3/2/2010
Posted by Consumer Watchdog
Washington, DC – A leaked proposal by Senate Banking Committee Chairman Chris Dodd to give consumer protection authority to the Federal Reserve Board in financial reform legislation would be a total capitulation to Wall Street lobbying, said Consumer Watchdog, and urged Senate committee members to insist on a strong independent consumer...
Blog Post
3/1/2010
Posted by Consumer Watchdog
Not that I had any doubt that Wall Street's fingerprints are all over every draft of the financial reform legislation, but here's more disturbing proof of just how deep their fingers are dug into the pie. The Huffington Post just reported that a top Treasury Department official, whose job was to work with the House Financial Services Committee in...
News Story
2/23/2010
Posted by Consumer Watchdog
Lobbyists for healthcare, energy and financial interests had a banner year in 2009, with the average payout for each reaching as high as $177,000. Despite his push to rein in special interests, President Barack Obama sparked a boom on K Street with major new proposals on healthcare, climate change and financial policies.  “The magnitude...
News Story
2/19/2010
Posted by Consumer Watchdog
WEST SACRAMENTO – After long days of representing Orange County residents at the state Capitol, Assemblyman Van Tran returns here, to a gated community where he lives with wife and kids in a 2,658-square-foot house with two fireplaces and a three-car garage. Tran's wife and two young children call this place home. His wife has declared this...
Blog Post
2/17/2010
Posted by Consumer Watchdog
Reports about consumer protection in the Senate Banking committee's Wall Street reform bill are ever-shifting. It's time for Committee Chairman Chris Dodd to tell us where he stands. Back in November, Chairman Dodd released a bill that included a strong, independent Consumer Financial Protection Agency with full rulemaking, examination and...
News Release
2/8/2010
Posted by Consumer Watchdog
Calls on Sen. Dodd To Re-Affirm Commitment to Independent Consumer Financial Protection Agency Washington, DC -- Consumer Watchdog called on Senate Banking Committee Chairman Christopher Dodd to re-affirm his commitment to an independent consumer financial regulator today after the nation’s largest bank announced it would not oppose the...
Blog Post
2/5/2010
Posted by Consumer Watchdog
It was hard to get away from Wall Street in Washington this week. In Congress, the Senate Banking committee held its first hearings since November on Wall Street reform, starting with an appearance by former Federal Reserve Chairman and current chair of the President's Economic Recovery Advisory Board, Paul Volcker. Volcker testified in support of...
Blog Post
1/28/2010
Posted by Consumer Watchdog
Entering the House chamber last night on the way to the podium to give his second State of the Union address, President Obama drew his Treasury Secretary close for a pat on the back that I could only interpret as ‘thanks for taking the heat.’ Hours before, Secretary Geithner sat in the hot seat in a House hearing room, defiantly...
News Release
1/26/2010
Posted by Consumer Watchdog
Washington, D.C. -- Consumer Watchdog urged President Obama to watch Sunday’s Dateline NBC documentary on patients who have insurance but not adequate coverage, then pledge in his State of the Union address tomorrow to deal with the lack of legal accountability for insurers and lack of adequate representation for consumers in the federal...
News Story
1/25/2010
Posted by Consumer Watchdog
Republicans are mounting a new effort to call Democrats hypocrites for raising populist ire at banks while continuing to accept millions of dollars in campaign money from them. House Republicans in particular argue President Barack Obama and congressional Democrats are fighting a “phony war on Wall Street” with their renewed efforts to...