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Attorney General Martha Coakley

AG Coakley Advocates for Consumer Financial Protection Agency

In the coming weeks, Congress will vote on the Consumer Financial Protection Agency (CFPA) Act of 2009, which if passed will provide the federal government with the necessary tools to avert future federal financial crisis.  The CFPA would establish a federal agency whose sole responsibility is to evaluate financial products in terms of consumer fairness and to create concise rules to empower consumer choice and increase competition.  In October, Attorney General Martha Coakley travelled to Washington, DC to meet with President Barack Obama to discuss financial regulatory reform legislation and to express her support for the CFPA.  Attorney General Coakley believes that this agency, along with joint enforcement by state officials, will protect consumers, promote sound credit practices, and restore confidence in financial markets.  An op-ed recently published in The New Republic and co-authored by Attorney General Coakley and Professor Elizabeth Warren outlines the basis for their support for this legislation.

For more information regarding Attorney General Coakley’s advocacy for the CFPA, see the press release.  Visit the AGO’s Consumer Protection site for helpful information and resources on consumer protection.