Consumer Protection
Greater Springfield Chamber of Commerce
Consumer Protection
Policy Statement
March 10, 2010
The Greater Springfield Chamber of Commerce seeks meaningful financial regulatory reform that protects consumers, allows for job creation and gets the US economy back on track.
The Chamber opposes the creation of a new, independent consumer protection agency with broad-reaching authority yet lacks Congressional oversight. The Chamber also stands in opposition to consumer protection language that is vague, general and open to wide interpretation.
The Chamber supports a national consumer protection standard that eliminates conflicting state laws and duplication of oversight from other agencies.
The language in consumer protection legislation must clearly define who the legislation is regulating and who is subject to regulation. The language in the legislation can not leave open to interpretation who may be subject to regulation in the future.
Furthermore, the funding source for any new consumer protection agency must be clearly defined so as to avoid unintended consequences that would negatively impact small businesses.
The Chamber opposes
H.R. 4173 - Wall Street Reform and Consumer Protection Act of 2009
as written
Why Stop the CFPA?
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