The new U.S. Consumer Financial Protection Bureau isn't even up and running yet, and already it seems its funding could be in trouble. Prof. Elizabeth Warren, the champion of the bureau, is trying to protect her project in the face of a conservative House majority.
The organization, birthed last year during the Dodd-Frank financial reform, would bring together the seven government agencies already in place with consumers' interests in mind. Reuter's Prism Money blog contends that Harvard Law School's Warren is a champion worth protecting.
Warren is a bank watchdog, intent on protecting consumers who might be subject to banking and credit abuses.
Warren feels the problem lies in the hits the middle class has been taking in the face of the credit industry's determined, bank-friendly marketing. Fees, finance charges, high rates are all big problems for families struggling just to pay the bills.
The agency won't be up and running until July and Warren has yet to be dubbed its head. Prism urges those who'd like to see the bureau get off the ground to contact your senators and congressman to "urge them to leave the bureau's funding alone." You can also ask your credit union or community bank directly to support the independent funding of the organization.
CLICK HERE for a list of U.S. Senators and HERE to write your rep in the House of Representatives.
Why Elizabeth Warren needs your help to police the banks [Reuters]
Welcome to Wise Bread's Best Money Tips Roundup! Today we found some awesome articles on 43 ways to save money, foods you don't need to buy organic, and how to keep your head after losing your job.
Top 5 Articles
43 Ways To Save Money — Want to save money? Throw away catalogs without looking at them. [The Consumerist]
The Clean 15: Foods You Don't Need to Buy Organic — Don't shell out extra money to buy organic grapefruits or mangos. [WalletPop]
Surviving Unemployment: How to Keep Your Head After Losing Your Job — If you have recently lost your job, keep your head on straight by coming to terms with the fact that your new job is to find a job. [The Huffington Post]
7 Creative Ways To Save Money On Your Vacation — Save money during your next vacation by avoiding souvenirs and shopping. [Smart On Money]
6 Tips For Scoring A Cheap Wedding Dress — Wedding season is almost upon us. If you are a bride shopping for a dress, save money by shopping online. [LearnVest]
Other Essential Reading
4 Different Types of Taxes and How to Minimize Them — Try to lower your property taxes by appealing your homes property tax assessment. [MoneyCrashers]
Place Your Bets Again: 83 Gut-Busting Restaurant Challenges for Free Food — Could you and 3 friends eat a 50 pound burger in 3 hours? Check out all 83 of these crazy restaurant challenges for free food. [Coupon Sherpa]
How To Hold a Family Meeting — Before you have a family meeting, take some time to determine your goals for the meetings. [Parenting Squad]
Combat Rising Food Prices — Beat rising food prices by buying on a schedule. [Being Frugal]
Are You Making These 7 Resume Mistakes? — Don't make the mistake of listing your references on your resume. [Cash Money Life]
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