Richard Blumenthal actually said...

Creating a new agency to fight consumer cons and abuse in alliance with the States, the Federal Government can muster more potent and proact...

Unfortunately, some opponents of this agency have misrepresented its purpose. The Financial Consumer Protection Agency will not 'regulate cr...

That is why I called for the creation of an independent consumer protection agency whose sole focus is the financial well-being of consumers...

I agree with you wholeheartedly that this bill is a first draft; it needs refinement, it needs work.