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What is the CFPA?

 
The Obama Administration has proposed, and the House is moving forward on, legislation to create a massive new government agency to regulate consumer financial products. This new agency, the Consumer Financial Protection Agency (CFPA) would have unprecedented powers and authority to determine the types of financial products consumers can choose from. In fact, the bill extends far beyond traditional financial services products to a vast majority of the economy -- in short creating a new regulatory overlay over the entire business community.

The Chamber supports more effective consumer protection that is centered on ensuring consumers have access to clear and concise disclosures about risks posed by financial products, and on weeding out the fraudulent and predatory actors.

How does CFPA affect you?

Tell us your story on how the CFPA will affect you. We will share your story on our Web site to inform other Americans on how this legislation will harm, rather than help, consumers and businesses alike. Click here to share your story and read what others have said.
 








Recent News


Can We Really Protect Consumer Finances?
The Atlantic

Return From Recess May Set the Tone for Regulatory Reform
BNA

House Panel Planning Vote on Consumer-Protection Agency
The Wall Street Journal

The Next Great Leap Backwards for Consumer "Rights"
Reason.tv

New finance regulatory body will have sweeping powers
The Atlantic


What Business Can Expect in 2010


Meet our policy expert:
Amanda Engstrom

"Congress wants to create a new government bureaucracy to compensate for the financial crisis. It is proposing a one-size-fits-all solution, and for small businesses in particular, one-size-fits-all almost never fits them."
Click here to read the full report from our issue experts.

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