Senator Claire McCaskill : Missouri

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January 31, 2008

McCaskill Addresses National Consumer Protection Group and Renews Commitment to Reform

WASHINGTON, D.C. – U.S. Senator Claire McCaskill today spoke to the Consumer Federation of America, a national consumer protection group, on the importance of consumer advocacy to ensure those who are the most vital to our economy have a strong voice in government.

In her address, McCaskill highlighted congressional accomplishments related to consumer protections that include strengthening oversight of the agencies that regulate the safety of products and services and fighting against unfair practices by credit card companies. McCaskill also renewed her commitment to continue fighting for consumer safety and taxpayer dollars.

“Something is terribly wrong. We have a crisis in this country in terms of consumer confidence in imported products and the head of the regulatory agency that is supposed to be the policeman in this area will not even publicly say out loud that they need more help,” said McCaskill. “That is why we need changes in Washington. We need to have people that will acknowledge that consumer protection agencies are dramatically undermanned and understaffed for the task at hand.”

The Consumer Product Safety Commission (CPSC) is an agency in turmoil, understaffed, underfunded and lacking proper government oversight.

McCaskill emphasized the importance of strengthening the power and independence of the Inspectors General and their role in ensuring accountability and transparency in government organizations, like CPSC, that consumers rely on for protection. Furthermore, she spoke about the importance of protecting whistleblowers that are willing to come forward and report abuse, fraud and waste and stand up for taxpayer and consumer interests:

“Someone needs to feel comfortable that when they come forward with information, that they are not going to retaliated against, that they are not going to lose their job, or their life savings, or their dignity, because they’re trying to do what’s right.”

McCaskill is the author of provisions to strengthen the CPSC Inspector General and extend whistleblower protections.

Discussing consumer protections that extend beyond the safety of toys and food, McCaskill highlighted her work in protecting consumers’ financial interests by increasing protections against unfair credit card practices and predatory lending. She spoke about the importance of arming consumers with the appropriate information about the financial instruments they are using:

“I’m worried about the level of debt in this country and that so many consumers are unaware of the hole they have dug themselves into,” said McCaskill. “If consumers were armed with appropriate information at the point of decision-making it would have made a difference in so many of those families’ lives.”

Since taking office, Senator McCaskill has been proud to fight for legislation to strengthen protections for consumers and ensure a voice for taxpayers in government. She has:

Introduced legislation to strengthen Inspectors General, true taxpayer, and often consumer, champions: The Inspector General Reform Act of 2007 will bring greater accountability to government organizations by ensuring that IGs remain independent of inappropriate pressure or influence and that all IG reports and audits are easily accessible to the public. She offered an amendment to the Consumer Product Safety Commission Reauthorization Bill to strengthen IG independence and resources at the CPSC.
Fought for whistleblowers protections: With the signing of the Defense Authorization bill, groundbreaking protections for whistleblowers in the private sector were enacted into law. Legislation is also pending that extends similar protections to employees at the Consumer Product Safety Commission and employees of industries regulated by the CPSC.
Introduced legislation to protect consumers from fraud and abuse by credit card companies: The Stop Unfair Practices in Credit Cards Act would strengthen consumer protections by preventing added interest on debt paid on time and in full, prohibiting added interest charges on transaction fees and requiring increased interest rates to apply only to future credit card debt. Furthermore, Senator McCaskill co-sponsored legislation to strengthen credit card protections for college students, who often fall victim to predatory credit card lenders.
Introduced legislation to protect senior consumers against predatory lending in the reverse mortgage market: The bill will provide funding for independent counseling and require the Department of Housing and Urban Development regulations to prevent this industry from triggering the next sub-prime market crisis.
Introduced legislation to stop consumers from being ripped off at the pump, due to “hot fuel”: The legislation mandates installation of temperature sensing equipment (ATC) to regulate the distribution of fuel based on its temperature at the time of purchase. The bill is estimated to save consumers more than $2.57 billion each year.

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