Good News: Real Reform is Here

The road to financial reform has been long and full of obstacles, but we did it!  Last week the Senate put working families ahead of Wall Street by passing the most significant lending protections in decades, including a new independent agency to guard against bad lending.  At a signing ceremony this morning, President Obama signed the bill into law.

Under the new reforms, the financial interests of ordinary people will no longer be an afterthought. The law eliminates many of the lax mortgage lending practices that ignited the financial meltdown. And your hard-earned money will not be used to rescue companies that engage in risky practices.

THANKS to all of you who worked for these changes and more. This was a great case of democracy in action, as you spoke loudly and our representatives in Washington listened.

As you know, the Senators who stood up for reform had to resist enormous pressure from well-funded banking lobbyists.  If your Senator said “yes” to financial reform, please take a moment to express your appreciation.  If your Senators voted against reforms, let them know you’re disappointed.  It will only take a moment: please click here.

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