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Statement of Treasury Secretary Tim Geithner on Passage of H.R. 3136, the Consumer Financial Protection Agency Act of 2009

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WASHINGTON -- The U.S. Department of the Treasury today released the following statement from Secretary Timothy F. Geithner on the passage of H.R. 3126 , the Consumer Financial Protection Agency Act of 2009 :

3126Consumer Financial Protection Agency Act of 2009

Today's decisive action by the House Financial Services Committee, under the strong leadership of Chairman Frank, represents an important milestone in our efforts to reform the financial system.  

This bill will create one agency focused on one simple mission--protecting consumers.   While there is more work ahead, today we are much closer to putting in place strict new rules of the road for the financial industry.  

We look forward to working with Chairman Frank, Senator Dodd, the House and the Senate to craft a strong package of reforms to protect consumers and make our financial system more stable.

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