The Consumer Federation of America (CFA) asks the U.S. House to oppose “The Customer Protection and End User Relief Act” (H.R. 4413), which the House is expected to vote on this month. This legislation would hamstring the Commodity Futures Trading Commission (CFTC) from effectively overseeing and regulating commodities and derivatives markets, leaving consumers exposed to fraud, manipulation, abusive practices and putting the safety and stability of the U.S. financial system at risk. This bill includes harmful provisions that are strikingly similar to other bills that have been brought to the House floor, which were clearly aimed at undermining the Dodd-Frank Act, and which the Obama Administration opposed.

Read the entire letter here.