We need better oversight of our nation's financial sector so that we never again see risky Wall Street practices dragging our economy down. The Bush administration failed to adequately regulate financial firms and left all Americans open to the disastrous consequences of the irresponsible decisions made by Wall Street banks and CEOs. That's why I recently helped pass comprehensive financial regulatory reform.

As your congressman, I have:

• Passed a law with tough new rules to protect consumers from predatory lending, shield our life savings from unnecessary risks run by Wall Street investors, inject transparency and accountability into the financial system, and give shareholders a say on corporate executive pay.
• Helped create the Consumer Financial Protection Agency, a new, independent federal agency devoted solely to protecting Americans from predatory financial practices. The watchdog agency will ensure that American consumers get the clear, accurate information they need to shop for mortgages, credit cards, student loans, and other financial products, while protecting us from hidden fees, abusive or unfair terms, and deceptive practices.
• Made sure that Wall Street will pay to clean up its own mess in the future, protecting middle-class Americans from ever again having to bail out the reckless bankers that caused our financial meltdown. These common-sense regulations will help ensure that the savings and livelihoods of American taxpayers are protected in the years to come.