"It is absolutely critical that consumer advocates join forces at home
and across the nation to ensure that President Obama’s proposed
Consumer Financial Protection Agency becomes a reality," said Attorney
General Lisa Madigan.  "Establishing a federal agency with the
authority to pass rules governing ALL types of lending and financial
transactions will provide significant consumer protections.  It will
provide a voice for consumers on the federal level that has been sorely
lacking."

“As we continue to witness families struggling with high cost credit
cards, toxic mortgage lending, excessive bank fees, and abusive auto
title and payday loans, all in a largely unregulated market, Illinois
families could greatly benefit from a federal law that ensures consumer
protections for financial products, said Lynda DeLaforgue, Co-Director
of Citizen Action/Illinois. 

“We strongly encourage Rep. Bean and Foster to support HR 3126, The
Consumer Financial Protection Agency Act,” said Tom Feltner, Policy and
Communications Director at Woodstock Institute.  "The CFPA will provide
a strong and stable regulatory foundation for states to build lasting
protection against systematic financial abuses.”