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AARP Statement on Bipartisan Passage of Carper Amendment to Financial Reform Bill

FOR IMMEDIATE RELEASE

May 18, 2010

Contact: AARP Media Relations, media@aarp.org, 202-434-2560

AARP Statement on Bipartisan Passage of Carper Amendment to Financial Reform Bill

WASHINGTON – AARP Senior Vice President David P. Sloane issued the following statement in response to this afternoon’s overwhelmingly bipartisan Senate vote in favor of the Carper Amendment to S. 3217:

“The Carper Amendment has provided a clear role for the state Attorneys General in protecting consumers from financial abuse.  While it is disappointing that the state AGs will not have the full authority to bring robust actions on behalf of consumers as a “first responder,” an important role for these defenders has been preserved with the passage of this amendment.

“AARP commends Senators Dodd and Carper for working together to bring uniformity for both the banks and to the consumers of financial products, so that the rules of the road are more clearly understood.   In addition, the amendment as passed preserves the ability of state AGs to provide an important backstop to the new consumer protection bureau, as they will be able to enforce new rules by the CFPB and be able to act when federal regulators are reluctant.

“AARP urges both parties to continue working together to pass the strongest bill possible that protects and expands the rights of consumers.”

For more information about AARP’s financial reform surveys click here.

About AARP

AARP is a nonprofit, nonpartisan membership organization that helps people 50+ have independence, choice and control in ways that are beneficial and affordable to them and society as a whole. AARP does not endorse candidates for public office or make contributions to either political campaigns or candidates. We produce AARP The Magazine, the definitive voice for 50+ Americans and the world's largest-circulation magazine with over 35.7 million readers; AARP Bulletin, the go-to news source for AARP's millions of members and Americans 50+; AARP VIVA, the only bilingual U.S. publication dedicated exclusively to the 50+ Hispanic community; and our website, AARP.org. AARP Foundation is an affiliated charity that provides security, protection, and empowerment to older persons in need with support from thousands of volunteers, donors, and sponsors. We have staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.

 

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MEDIA CONTACTS

If you are an AARP member and not with the press, call 1-888-OUR-AARP or email member@aarp.org.

 

For media inquiries, please contact the AARP Media Relations Office at (202) 434-2560 or media@aarp.org.

 

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