Financial Protections

We are still recovering from the most severe financial crisis since the Great Depression. Home values crashed, savings accounts shrank, millions of jobs were lost or eliminated, and access to credit became nonexistent. Many Americans were left with loans they were unable to afford based on misleading promises of low payments that ballooned at the worst possible time. This was the result of Wall Street greed, deregulation, and the failure of federal regulators to act in the interests of consumers.

The Dodd-Frank Wall Street Reform and Consumer Protection Act, which passed in 2010, overhauled the financial industry and reined in Wall Street abuses. It included my amendment to protect seniors from abusive terms in reverse mortgages.

In order to ensure basic consumer protections and clear disclosure of relevant loan or other consumer financial information, the Dodd-Frank Wall Street Reform and Consumer Protection Act also included a provision to establish a national watchdog of the financial industry. I supported the creation of the Consumer Financial Protection Bureau from the beginning because I believe that the safety of financial products is as important as the safety of any consumer good. Finally, consumers have a single place where they can go to for help with credit cards, mortgages, student loans, and other financial products.

Resources

Consumer Financial Protection Bureau

Center for Responsible Lending

Heartland Alliance

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    repName John Smith  
    helpWithFedAgencyAddress Haverhill District Office
    1234 S. Courthouse
    Haverhill, CA 35602    		  
    district 21st District of California  
    academyUSCitizenDate July 1, 2012  
    academyAgeDate July 1, 2012  
    academyApplicationDueDate October 20, 2012  
    repStateABBR AZ  
    repDistrict 1  
    repState Arizona  
    repDistrictText 1st  
    repPhoto  
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  • Office Locations

    Office Name Location Image Map URL
    Washington DC 2229 Rayburn House Office
    Washington, DC 20515
    Phone: (202) 333-4455
    Fax: (202) 333-5522    		 http://goo.gl/maps/rqq9i
    Haverhill Office
    Serving Haverhill County
    1234 East. Courthouse
    Haverhill, CA 35602
    Phone: (202) 333-4455
    Fax: (202) 333-5522    		 http://goo.gl/maps/BCEEO
    South Office
    10 Welcome Street
    Tuesdays & Thursdays
    9:00 AM- 11:00 AM    		 http://goo.gl/maps/lodfk