Congress Approves Wall Street Reform!

On July 15, the U.S. Senate passed the Wall Street Reform and Consumer Protection Act by a count of 60 to 39.

The bill reins in Wall Street and protects consumers, investors, and taxpayers from further financial meltdowns. The centerpiece of the reform legislation is the establishment of the new, independent the Consumer Financial Protection Bureau to protect consumers of financial products, including private student loans. 

On May 13, U.S. PIRG released“Risking Our Future Middle Class: Young Americans Need Financial Reform” to point out the damage the financial crisis has inflicted on students and young adults.

Also check out this short video reflecting on the passage of financial reform legislation, including: an interview with U.S. PIRG Consumer Program Director Ed Mierzwinski, a rally in DC organized by Americans for Financial Reform, and DC office Director Gary Kalman speaking at a press conference in the Capitol with Senate Majority Leader Harry Reid.