FOR IMMEDIATE RELEASE
May 18, 2010
Contact: AARP Media Relations, email@example.com, 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.”
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