Learn more about our policy experts.

Media Contacts

Angela Bradbery, Director of Communications
w. (202) 588-7741
c. (202) 503-6768
abradbery@citizen.org, Twitter

Barbara Holzer, Broadcast Manager
w. (202) 588-7716
bholzer@citizen.org

Karilyn Gower, Press Officer
w. (202) 588-7779
kgower@citizen.org

Symone Sanders, Communications Officer, Global Trade Watch division
w. (202) 454-5108
ssanders@citizen.org

Other Important Links

Press Release Database
Citizen Vox blog
Texas Vox blog
Consumer Law and Policy blog
Energy Vox blog
Eyes on Trade blog
Facebook/publiccitizen

Follow us on Twitter

 

Feb. 25, 2010

Public Citizen, Americans for Financial Reform and Thousands of Americans Petition Sen. Dodd to Fight for a Strong, Independent Consumer Financial Protection Agency

Revised Banking Reform Bill is Imminent

WASHINGTON, D.C. - As Americans await the unveiling of a revised financial reform bill in the Senate after months of bipartisan negotiations, representatives from Public Citizen and the coalition Americans for Financial Reform hand-delivered signatures to Senate banking committee Chairman Chris Dodd’s (D-Conn.) office on Tuesday thanking him for his leadership, while also urging him to hold Wall Street accountable and to fight for a strong independent Consumer Financial Protection Agency.
 
More than 45,000 Americans signed the petitions circulated by Public Citizen, Americans for Financial Reform, Credo, the Center for Media and Democracy and Consumer Watchdog. These petitions call on Dodd and the banking committee to stand up to Wall Street and the big bank lobbyists.

“A strong independent consumer financial protection agency is the litmus test for financial reform,” Public Citizen President Robert Weissman said. “Wall Street and the big banks crashed the financial system with abusive mortgage loans, have gouged consumers with outrageous overdraft fees and feasted on rip-off credit card charges. If after all that, Congress fails to establish an independent consumer protection agency, then we will know that Sen. Dick Durbin (D-Ill.) was indeed right when he said the banks own the Senate.”

Public Citizen and the coalition also commended Sen. Dodd for working with the people’s lobbyists to craft reform legislation. 

“We are confident that the Senate Banking Committee, with Chairman Dodd at the helm, will stand up to Wall Street lobbyists and create a Consumer Financial Protection Agency that that will crack down on exorbitant fees and deceptive practices of credit card companies, mortgage brokers and others who prey on hard-working Americans,” said Heather Booth , executive director of Americans for Financial Reform. “We look forward to working with them to achieve this goal.”

Sen. Dodd issued the following statement to the petitioners:

“Thank you for taking the time to voice your support for strong consumer protections. 
In the years leading up to the financial crisis, our country saw an across-the-board failure to protect consumers.  That’s why I’m working hard to pass strong financial reforms that will hold Wall Street accountable and prevent another financial crisis.
Protecting consumers by cracking down on abuses and deceptive practices will be a key element of this bill.  Keep up the good work, and keep fighting for consumers.”

READ the letter to Sen. Dodd and watch a video of the petition delivery to Dodd’s office. ###

Copyright © 2014 Public Citizen. Some rights reserved. Non-commercial use of text and images in which Public Citizen holds the copyright is permitted, with attribution, under the terms and conditions of a Creative Commons License. This Web site is shared by Public Citizen Inc. and Public Citizen Foundation. Learn More about the distinction between these two components of Public Citizen.


Public Citizen, Inc. and Public Citizen Foundation

 

Together, two separate corporate entities called Public Citizen, Inc. and Public Citizen Foundation, Inc., form Public Citizen. Both entities are part of the same overall organization, and this Web site refers to the two organizations collectively as Public Citizen.

Although the work of the two components overlaps, some activities are done by one component and not the other. The primary distinction is with respect to lobbying activity. Public Citizen, Inc., an IRS § 501(c)(4) entity, lobbies Congress to advance Public Citizen’s mission of protecting public health and safety, advancing government transparency, and urging corporate accountability. Public Citizen Foundation, however, is an IRS § 501(c)(3) organization. Accordingly, its ability to engage in lobbying is limited by federal law, but it may receive donations that are tax-deductible by the contributor. Public Citizen Inc. does most of the lobbying activity discussed on the Public Citizen Web site. Public Citizen Foundation performs most of the litigation and education activities discussed on the Web site.

You may make a contribution to Public Citizen, Inc., Public Citizen Foundation, or both. Contributions to both organizations are used to support our public interest work. However, each Public Citizen component will use only the funds contributed directly to it to carry out the activities it conducts as part of Public Citizen’s mission. Only gifts to the Foundation are tax-deductible. Individuals who want to join Public Citizen should make a contribution to Public Citizen, Inc., which will not be tax deductible.

 

To become a member of Public Citizen, click here.
To become a member and make an additional tax-deductible donation to Public Citizen Foundation, click here.