http://tinyurl.com/votersvoice
On April 26th the Senate will vote to begin debate on the Consumer Financial Protection Agency bill. While well-meaning there are unintended consequences that will negatively impact consumer choice in the local financial market. After reading this note we ask you to do the following:
1. Follow the link at the bottom of the note and write your Senator.
2. Repost this onto your social media sites so more voices may be heard.
The Consumer Financial Protection Agency will deny millions of United States citizens access to credit.
It will have the power to regulate and restrict personal credit options including loans from community banks, credit unions, local automobile dealerships, retail layaway plans like Wal-Mart, even from doctors and dentists who have a payment plan for medical or dental work.
There is no reason to create the CFPA, which will be a gigantic federal bureaucracy that will regulate local businesses that are already well regulated by the states or current laws.
The CFPA will wipe out thousands of jobs while doing little to reign-in the abuses of Wall Street.
With credit constricted, thousands of jobs on Main Street will be lost as local companies who offer credit services or depend on credit for business costs have to either close or lay-off employees.
The community bankers, small lenders, local businesses that issue credit had nothing to do with the financial meltdown. They provide small amounts of credit to America’s middle class. Theirs is no reason to put a federal agency between these businesses and their customers.
Unbelievably, this legislation would cripple financial choices on Main Street while providing Wall Street another bail out and costing taxpayers another $400 billion in taxes.
Customers deserve to make their own financial choices and don’t need the government making decisions for them.
Small local lenders didn’t take a dime of federal bailout money and were not responsible for the financial meltdown.
Write your Senator today!
