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Blog Post
4/7/2010
Posted by Judy Dugan
Tucked away in some early reports about a possible GOP deal on creation of a stand-alone consumer protection agency is a hint of what could be traded away in exchange--tough regulation of the kind of speculative, unregulated financial trading that crashed the economy in the first place. The whole story is not much above gossip level yet. But Sen....
Blog Post
4/2/2010
Posted by Carmen Balber
A House staffer whose job included drafting new rules for regulating derivatives (like the credit default swaps that sunk AIG) just left the House to go lobby for, drumroll please, a derivatives clearinghouse.

 But Peter Roberson, who worked on the financial reform package for Barney Frank’s Financial Services Committee, just...
Blog Post
3/23/2010
Posted by Carmen Balber
Last night, in a surreal process that from gavel to gavel took less than 25 minutes, the Senate Banking committee approved Chairman Dodd’s financial reform legislation on a party-line vote. 18 months after Wall Street speculation and greed caused the near-collapse of the nation’s economy and the taxpayer bailout of the nation’s...
Blog Post
3/19/2010
Posted by Carmen Balber
Check out this hilarious and too-truthful Huffington Post from Heather Booth, director of Americans for Financial Reform, the coalition of public interest groups working to enact real Wall Street reform, on this week's Capitol Hill visit from the American Bankers' Association. It will make you laugh, curse, and maybe vomit a little. A taste:...
News Release
3/16/2010
CONTACT CONTACT: Carmen Balber, (202) 629-3043
Washington, D.C. -- Consumer Watchdog’s Washington Director, Carmen Balber, made the following comments on consumer protection in financial reform legislation proposed by Senate Banking Committee Chairman Chris Dodd:   “Legislation released by Chairman Dodd on consumer financial protection would hamstring a new consumer regulator...
News Release
3/10/2010
CONTACT CONTACT: Jerry Flanagan, (310) 889-4912; or Carmen Balber, (202) 629-3043
Washington, DC -- Harvey Rosenfield, author of California’s landmark insurance regulation Proposition 103—recognized as the most successful insurance regulation in the country—was joined today by people struggling to pay for health insurance in calling on President Obama and Congress to impose a national freeze on health...
Blog Post
2/17/2010
Posted by Carmen Balber
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
CONTACT CONTACT: Naomi Seligman, 310-392-0522, x318; or Harvey Rosenfield, x303
Mercury Insurance Initiative – Prop 17 – Will Legalize Unlawful Surcharges Uncovered by State Investigators Santa Monica, CA -- Newly released internal government reports show that Mercury Insurance Company, the sponsor of Proposition 17 on California's June ballot, has a history of discrimination against members of the U.S. military,...
News Release
2/8/2010
CONTACT CONTACT: Carmen Balber (202) 629-3043
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 Carmen Balber
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...