Waters Offers Amendment TO Add ACORN to Oversee Financial Institutions

During consideration of H.R. 3126, legislation to establish a Consumer Financial Protection Agency (CFPA), Democrats on the House Financial Services Committee voted to pass an amendment offered by Rep. Maxine Waters (D-CA) that will make ACORN eligible to play a role in setting regulations for financial institutions.

The Waters amendment adds to the CFPA Oversight Board 5 representatives from the fields of "consumer protection, fair lending and civil rights, representatives of depository institutions that primarily serve underserved communities, or representatives of communities that have been significantly impacted by higher-priced mortgages" to join Federal banking regulators in advising the Director on the consistency of proposed regulations, and strategies and policies that the Director should undertake to enforce its rules.

The Waters amendment passed on a vote of 35-33. Click here to view the vote.

Category:

News & Politics

Tags:

• Waters
• Financial Services Committee
• CFPA

[calimar28]

We cannot bail out California. If we dont then the state will FORCE it's useless mouths out, like Waters, it will be forced to stop giving amnisty to illegals, etc.

If however we bail it out, we will just subsidize it to keep on doing this.

[rosshowell]

Watch this and you get a hint about why California government has put an incredible state into a disaster. People who vote for her vote to continue to live in a trashed neighborhood and they want to share the misery with us. The "I want to feel good" LaLaLanders vote with their heart and help trash the Free... Enterprise Reward Success America which they won't appreciate until they destroy it. By not doing the work to find out reality and analyze what they find out, they are selling their kids

[barbarianopinion]

God, she's a blithering idiot. Haven't her constituents ever listened to her? Or do they tend to be as stupid?

What an embarrassment....