116 3rd St SE
Cedar Rapids, Iowa 52401
Home / Opinion / Letters to the Editor
Independent agency needed to aid consumer
The Gazette Opinion Staff
Mar. 9, 2010 11:49 pm
We need a real Consumer Financial Protection Agency, but President Barack Obama's proposal to create one is being strongly opposed by the financial industry and Republicans. Republicans would prefer to kill it altogether.
They say they are willing to compromise by putting it inside the Federal Reserve, but regulators at the Fed have historically served the interest of bankers and predatory lenders over consumers. We need a truly independent agency where decisions are made with the consumer in mind.
Otherwise, we are setting ourselves up for the next financial crisis.
Jay Portas
Cedar Rapids
Opinion content represents the viewpoint of the author or The Gazette editorial board. You can join the conversation by submitting a letter to the editor or guest column or by suggesting a topic for an editorial to editorial@thegazette.com
Daily Newsletters