Dear Edtior:

CEOs of banks, insurance companies and securities firms have a reason to smile. They are the undisputed big winners in the financial modernization bill--not surprisingly, because they were the ones negotiating at the table with lawmakers. 

Those who were left out and stand to lose the most from this deal are the individuals, small businesses and communities who depend on affordable banking services and loans. 

Here is what the financial institutions get. They get to form huge corporations that can afford to ignore families and small businesses down the street. They get access to their customers' most private, personal, medical and financial information, which they can use for any purpose without permission. They get a weaker Community Reinvestment Act, which could result in a real decline in loans to minorities, small businesses and communities in need. 

Financial modernization should not be just about financial institutions. It should be about protecting the rights of consumers. 

Consumers didn't get a fair deal in this bill. But the debate is far from over.