HOW YOU CAN HELP

Send a Message To Sens. Arlen Specter and Bob Casey

Urge Sens. Arlen Specter and Bob Casey to co-sponsor legislation to establish a Consumer Financial Protection Agency and vote for other pieces of financial reform that will protect the interests of consumers and taxpayers.

Overview

More than a year after Wall Street's reckless dealings triggered the worst economic crisis since the Depression, we're still waiting for Congress to enact the changes that could keep it from happening all over again.

We need a financial system that works for consumers, small investors and taxpayers while holding Wall Street bankers accountable for their bad behavior.

That's why PennPIRG is pushing for reform, so that no Wall Street firm gets too-big-to-fail, and so Pennsylvanians are protected from unfair practices ranging from predatory mortgages to "gotcha" overdraft fees.

Even though the banks took billions of dollars of taxpayers money, the big banks and Wall Street are lobbying hard to block reform.

But we have a real opportunity to reform the financial system that failed.

Leading the charge is Ed Mierzwinski, PennPIRG's federal consumer program director working in Washington, D.C., and a 20-year Capitol Hill veteran. Whether he's making our case at Congress or on cable news, Mierzwinski is one of the strongest public interest voices on financial reform in Washington. Mierzwinski also helped to found Americans for Financial Reform.

Working with allies, and with support from thousands of PennPIRG members across the country, we are making progress.

In December, the House of Representatives narrowly approved the Wall Street Reform and Consumer Protection Act, despite the outcry from lobbyists representing the financial industry.

But the fight's not over. We need your help to pass a strong version of the bill in the Senate.

We're gathering support for a bill that would:

• Put consumers and taxpayers before big banks. Check irresponsible financial practices with new rules and stronger, independent enforcement. We’re supporting a new Consumer Financial Protection Agency.

• Cover all players and transactions. Rein in hedge funds and reckless investments that escaped regulations and traded without oversight on “shadow markets.” 

•  Prevent financial institutions from becoming “too big to fail.” Banks shouldn’t be able to freely gamble with taxpayer money covering the bets.

•  And we support greater oversight, accountability and democratization of the Federal Reserve.

Please take action today, by clicking here.