Letter to the Editor:

I would like to thank those members of Congress who supported the Dodd-Frank Wall Street Reform and Consumer Protection Act that, if it passes the Senate, will protect consumers and investors from abusive practices and reduce the vulnerability of the financial system.

This legislation could help restore responsibility and accountability to financial institutions, thereby restoring consumer confidence. It will help protect Americans’ money and stabilize our economy.  Information will be available so consumers can learn about the products they purchase and what to do if they suspect a scam.

AARP supports this legislation because it will establish a watchdog to protect Americans from getting a mortgage or credit card with hidden fees that cause their bills to skyrocket.  The legislation will ensure that Americans get clear, accurate information needed to shop for mortgages, credit cards and other financial products.  Additionally, the bill will crackdown on investment scams targeted at older Americans.

AARP will continue to work with our senators to pass this legislation as soon as possible so consumers and investors can count on these critical protections.

If you would like to find out how your NJ Congressmen voted you can look online at AARP New Jersey’s blog at www.aarp.org/nj.

 

Lee Busch

AARP Member and Volunteer

East Brunswick, NJ