PORTLAND -Â The U.S. House of Representatives passed critical financial reform legislation yesterday, bringing consumer and investor protections one step closer to becoming a reality for Americans who have been hurt by the recent financial crisis. By passing â€śDodd-Frank Wall Street Reform and Consumer Protection Act,â€ť Members voted to protect consumers and investors from abusive practices and reduce the vulnerability of the financial system.
AARP sent a letter to each House office advising them that the Association designated yesterdayâ€™s vote as an â€śAARP Key Vote.â€ť
Maineâ€™s Congresswoman Chellie Pingree and Congressman Mike Michaud both voted yes on this legislation.
AARP supports this legislation because it will establish a watchdog that will protect Americans from getting a mortgage or credit card that has hidden fees that cause their bills to skyrocket; ensure Americans get the clear, accurate information they need to shop for mortgages, credit cards and other financial products; and crackdown on investment scams targeted at older Americans.
â€śAARP polling demonstrates that Americans age 50+, regardless of party affiliation, want Congress to hold financial institutions accountable,â€ť said Nancy Kelleher. â€śThis legislation takes important steps to ensure consumers know what theyâ€™re buying and where to find help if they get scammed.â€ť
AARP notified the 111th Congress that it was tracking roll call votes on key legislation important to its members and all Americans and reporting the outcomes of these votes back to the public.
â€śAARP members and all older Americans can see how their representatives voted on financial reform by going to www.aarp.org/governmentwatch,â€ť said Nancy Kelleher.
AARPâ€™s Government Watch is a one-stop online portal that will be tracking and publicizing every designated key vote on issues facing Americans age 50-plus. A â€śKey Vote Summaryâ€ť highlighting votes on these issues will be published at the end of each congressional session.
Contact Name: Nancy Kelleher
Telephone Number: (207)776-6304