Subject:
No New Financial Agencies
To:
President Barack Obama
Sen. Kay Bailey Hutchison
Sen. John Cornyn
Rep. Charles Gonzalez
September 15, 2009
I want to state that I do not believe that the proposed 'Consumer Financial Protection Agency' (which would regulate things like mortgages and credit cards) would be a particularly effective one. The Congress has already passed ample legislation requiring banks and other loan companies to tidy up their act. I believe this has been sufficient.
Any additional beneficial impact that new regulatory agency would have will only be minute. Furthermore, to pay for such an agency, one would have to add to the cost of lending, the federal deficit, or shove the costs over to some other group.
Please oppose the creation of the ''Consumer Financial Protection Agency" or anything like it, on the grounds that it is simply unnecessary.
Thank you
San Antonio , TX
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