March 9, 2010
Write the Laws Act: Do you want more unelected lawmakers?
By James Wilson

Congress wants to establish a Consumer Financial Protection Agency (CFPA) that will regulate everything from credit cards to mortgages.

House Democrats want the CFPA to be an independent agency, but Republicans are opposed. As a result, Senators Chris Dodd and Bob Corker are thinking of making it an arm of . . . the Federal Reserve!

Both Democrats AND Republicans are missing the point. Only Congress - not unelected bureaucrats - should have power to write and pass laws. Please tell Congress to oppose the creation of the CFPA and tell them to introduce the Write the Laws Act (WTLA) instead.

You may borrow from or copy this letter . . .

I'm upset that Congress is considering the creation of a new regulatory agency, the Consumer Financial Protection Agency (CFPA). The CFPA would do more harm than good . . .

* it will regulate financial institutions to supposedly protect consumers
* whereas other federal regulators are charged with protecting the health and solvency of these same institutions
* these differing objectives will lead to conflicting regulations
* that will cause harm to both consumers and the industry itself

And the CFPA is unnecessary . . .

* existing agencies already have consumer protection powers
* members of Congress claim these agencies haven't regulated adequately or wisely, HOWEVER
* there's no evidence that yet another new regulatory body will do any better

You, the members of Congress, have ultimate responsibility for policy. You can restrain the bureaucrats, and you can give them specific instructions. New bureaucracies are not needed; instead, Congress must assume its Constitutional responsibility for ALL regulations.

Frankly, I do not believe any new regulations are needed. If you abolished the Fed, granted free competition in currency, and allowed free banking, the market would regulate itself according to the demands of the people. But if you are convinced that federal regulations are needed, the least you can do is follow the Constitution!

* the Constitution reserves legislative power - including regulatory power - in YOU, not in unelected bureaucrats
* write specific legislation, with no details left to the bureaucrats
* Executive Branch agencies should be charged only with enforcing regulations, not with writing them

I therefore insist that you oppose the creation of the CFPA. Instead, introduce the Write the Laws Act.

A final note: I am particularly insulted by the proposal to make the CFPA an arm of the Federal Reserve. All 317 House members and 32 Senators who co-sponsored the Audit the Fed bills must be insulted, too. Please do everything in you can to prevent the expansion of the Fed's powers.


You can send your letter using's Educate the Powerful System.

James Wilson
Assistant Communications Director

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