Take a Stand: Consumer financial regulator

Senate Democrats are preparing a proposal to create a new regulator of consumer financial services products.

Under a bill being written by Sen. Chris Dodd (D-Conn.), a new division of the Federal Reserve would write rules about mortgages, credit cards and other consumer products, but it would not enforce the rules.

The proposal reflects compromises suggested by Republican senators during negotiations which have since ended. The new plan is not expected to get much GOP support.

Click the appropriate link below to send your letter to Obama and your Members of Congress.

If you want to support the proposed agency:

Create a Consumer Financial Services Regulator
Support Sen. Dodd's proposal

If you oppose the proposal:

Leave Financial Regulation Alone
Oppose Sen. Dodd's proposal

Update: After three weeks, Congress.org users sent 1,283 letters, with 61 percent opposed to changing consumer financial regulations and 39 percent in favor.

-- Ryan Teague Beckwith, Congress.org

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