WASHINGTON, DC -- Service Employees International Union Secretary-Treasurer Anna Burger released the following statement on the introduction of H.R. 3126, which will establish a much-needed Consumer Financial Protection Agency:

Working families have more consumer protection buying a piggy bank from a store on Main Street than they currently have with financial products from Wall Street. A strong Consumer Financial Protection Agency will realign the regulatory architecture to reflect the unfortunate lessons learned in the current financial crisis and help protect consumers in the future.

"Recent news that the U.S. Chamber and banking industry are intensifying their lobbying efforts against financial reform only reinforces the critical need for this legislation. Instead of finding ways to prevent another economic crisis, they are finding ways to continue the status quo. In fact, yesterday one of the financial service industry's main lobbyists let slip on C-SPAN that they are 'not for any regulation.'

"This legislation will restore American families' faith and confidence in the financial system, and put an end to the Wall Street robber barons who've destabilized our economy and threatened our financial security."

With 2 million members in Canada, the United States and Puerto Rico, SEIU is the fastest-growing union in the Americas. Focused on uniting workers in healthcare, public services and property services, SEIU members are winning better wages, healthcare and more secure jobs for our communities, while uniting their strength with their counterparts around the world to help ensure that workers--not just corporations and CEOs--benefit from today's global economy.

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