The amendment in question has to do with consumer protection. In particular, Sen. Carper and a bunch of other "moderates" are saying that the federal government should trump the state rights for consumer protection. Yes, it's the exact same amendment pushed by Melissa Bean in the House.
This is probably the worst amendment being considered (with a close second to Brownback's "Auto Dealer exemption" which is being fought against by Holly PETRAEUS, yes that one) hence it must be stopped because it is too close to being passed.
Most Dangerous Financial Amendment May Pass
Let's be clear on this. This amendment would preempt the states from making stronger rules on consumer protection. Consumer Groups are against it, the WH is against it, Elizabeth Warren and others all down the line are against it. I'm not going to say anything else other than this bill must be stopped. It's got a very good chance of passage because it's being cosponsored by "moderate" dems including Warner, Carper and a bunch of others.
Several Democratic senators are supporting the amendment -- also co-sponsored by 10 Republicans -- to give federal regulators more power to preempt state regulations, saying there should be one strong central regulator.
The White House said states had to help regulate the 115,000 financial service providers across the United States.
"It's not reasonable to expect that the federal agencies can do this alone," Diana Farrell, deputy director of the White House's National Economic Council, told reporters on a conference call.
The sprawling Wall Street reform bill working its way through Congress would be the biggest overhaul of the U.S. financial rulebook since the 1930s.
Let them know how you feel on this legislation:
Tom Carper:
Washington, D.C.
United States Senate
513 Hart Building
Washington, DC 20510
Phone: (202) 224-2441
Fax: (202) 228-2190
Ben Nelson:
Washington, D.C.
720 Hart Senate Office Building
United States Senate
Washington, DC 20510
Tel: 1-202-224-6551
Fax: 1-202-228-0012
Mark Warner:
459A Russell Senate Office Building
Washington, DC 20510
Phone: 202-224-2023
Fax: 202-224-6295
Evan Bayh:
131 Russell Senate Office Building
Washington, DC 20510
(202) 224-5623
(202) 228-1377 fax
Tim Johnson:
136 Hart Senate Office Building
Washington, DC 20510
p. (202) 224-5842
f. (202) 228-5765