Rep. Mary Jo Kilroy says two of her proposals found their way into the legislation approved yesterday in the House Financial Services Committee creating a federal Consumer Financial Protection Agency.
Kilroy is a member of the committee. One of her amendments creates an "ombudsman" at the agency who will have the mission of giving consumers "impartial assistance" if they have problems with their banks or other financial institutions, according to her office. The other establishes a single, toll-free "hotline" consumers can call to register complaints and get more information.
The legislation creating the new agency to oversee financial institution is meant to "provide a level playing field between consumers and their financial institutions,” Kilroy said. “My amendments provide further protections and assistance to consumers who need an outlet to express challenges they may be having with their financial institutions.”
