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Re-activateConsumers Union, publisher of Consumer Reports, has joined 37 other not-for-profits in a letter to House Financial Services Committee Chairman Barney Frank (D-Ma), recommending that oversight of consumer auto financing be included in the proposed Consumer Finance Protection Agency. The agency is one of many aspects of financial reform now before the House panel. Click here for a report on the not-for-profits' efforts and on their opposition.
The not-for-profits are in good company in supporting the agency. Recently, more than 70 professors of law and banking law signed a similar statement of support for the agency.
For more on this important proposal, read our series of interviews with Elizabeth Warren, a Harvard law professor and fervent advocate for consumer finance reform.
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