This evening, Vice President Biden sent the email below to the White House email list. If you didn't get it, be sure to sign up for our list.
I want to make sure you heard a piece of news from Capitol Hill today.
This morning, Holly Petraeus, who has been leading an office at the Consumer Financial Protection Bureau to protect military families, went to Capitol Hill to highlight some of the most abusive practices our service members face in today's financial marketplace.
She explained that military families are the targets of predatory lenders. She talked about how many service members and their families struggle to make ends meet -- especially during deployments. And she said that the CFPB will help combat the lenders who try to take advantage of people with deceptive, unfair, and abusive lending practices.
But here's the thing: The Senate still hasn't confirmed President Obama's nominee to lead the CFPB, a former Attorney General from Ohio named Rich Cordray. The bureau needs a director to fully ensure that the debt collectors, private student loan providers, and payday loan providers are properly supervised and that consumers are not put at risk of falling prey to the same kinds of abusive practices that helped cause the worst financial crisis since the Great Depression.
Rich has spent his career advocating for middle class families, and enjoys broad, bipartisan support from the elected officials, business leaders, and consumer groups who have worked with him.Take a minute to read what Holly had to say, and share her testimony with those you know.
Source: http://www.whitehouse.gov/blog/2011/11/03/holly-petraeus-gets-it
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