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Hold Industry Accountable for the Tax Dollars You've Invested!

American taxpayers will be giving hundreds of billions to bail out individual financial institutions and the financial sector in general. But we still need real accountability and solutions to prevent meltdowns in the future.

Three banks, JP Morgan Chase, Citibank and Bank of America, will hold an estimated one third of all the nation's deposits. They may now be "too big to fail." That makes real accountability even more important.

But it's not just the financial sector that's been running itself. We face similar failures in other sectors – food, product safety, health care. We need a new attitude about the role of government, and clear, common sense reforms. It's time to put the cop back on the beat.

Please sign our petition and tell your Senators and your Representative to prioritize a new vision for oversight and accountability.

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Stop the "anything goes" approach!

Dear [Decision Maker],

In light of America's recent investment of tax dollars in our financial sector, it is time for elected officials to improve oversight over financial and other essential services. Not only must we hold financial corporations accountable, it is time to reexamine our regulatory failure in many arenas.

In the last several years we have witnessed regulatory failures in areas as diverse as food and drug safety to mortgage and credit card lending. The failure of our system of financial oversight is the most recent--and striking--example of a failure to put people before corporations and enforce fair rules for everyone.

We are now at an historic crossroads, and I'm calling on you to embrace what has been out of style for some time for many elected officials--strong and independent government oversight that assures a competitive, fair, transparent marketplace and intervenes appropriately when individuals cannot protect themselves.

I urge you to begin to enact strong consumer protections early next year that include:

* Protecting bank customers from unfair banking and loan fees, including unfair and predatory lending practices. Help ensure adequate checks and balances in the financial system to protect consumers.

* Protecting credit card customers from abusive credit card practices. Consumers shouldn't continue to be gouged by excessive credit card rates and fees by financial institutions that are going to benefit from the financial bailout.

* Strengthening food oversight to address the numerous food safety problems that are plaguing our nation.

* Fixing a broken health care system that is driving health care costs through the roof, while making coverage unaffordable for millions and completely out of reach for millions more.

We need a different approach from the deregulatory one we have taken over the last several decades. Let us ensure adequate enforcement and consumer protection by making it a top priority for regulatory agencies to do their jobs, and let us be sure to adequately fund them. State AGs and state law enforcement should also serve as additional "cops on the beat" to help enforce consumer protection standards.

Free markets are ever changing, and, as we have seen, abusive practices can easily take hold without effective oversight that is committed to consumer protection. Smart government regulations can and should be used to prevent abuses and put our nation back on the right track.

[Your Comments]

Sincerely,

[Your Name]
[Your Address]
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I urge you to begin to enact strong consumer protections early next year that include: * Protecting bank customers from unfair banking and loan fees, including unfair and predatory lending practices. Help ensure adequate checks and balances in the financial system to protect consumers. * Protecting credit card customers from abusive credit card practices. Consumers shouldn't continue to be gouged by excessive credit card rates and fees by financial institutions that are going to benefit from the financial bailout. * Strengthening food oversight to address the numerous food safety problems that are plaguing our nation. * Fixing a broken health care system that is driving health care costs through the roof, while making coverage unaffordable for millions and completely out of reach for millions more. We need a different approach from the deregulatory one we have taken over the last several decades. Let us ensure adequate enforcement and consumer protection by making it a top priority for regulatory agencies to do their jobs, and let us be sure to adequately fund them. State AGs and state law enforcement should also serve as additional "cops on the beat" to help enforce consumer protection standards. Free markets are ever changing, and, as we have seen, abusive practices can easily take hold without effective oversight that is committed to consumer protection. Smart government regulations can and should be used to prevent abuses and put our nation back on the right track. [Your Comments] Sincerely, [Your Name] [Your Address]

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