Today marks one year since President Obama signed Wall Street reform into law. It’s a measure designed to hold Wall Street accountable, protect consumers, and help our economy get back on track.
These reforms have already begun to take hold. Transparency and fairness are returning to Wall Street. Main Street is getting a seat at the table.
One central part to this new law has been the creation of the Consumer Financial Protection Bureau(CFPB), an independent agency designed to empower consumers with the strongest protections in history. Officially opening their doors today, the CFPB will:
- Protect families wishing to purchase a home;
- Safeguard Americans against unfair rate hikes on their credit cards; and
- Provide security against unexpected and unnecessary overdraft fees.
Unfortunately, the passage of Wall Street Reform wasn’t the end of the fight. Republicans and special interests are working every day to dismantle the progress made by this law.
That’s why it’s so important to share information about the benefits of Wall Street Reform with your friends, family, and networks. Our economy has come too far to shatter the foundation of that progress.