'Banker Man' Gobbles Up Consumers on Capitol Hill as Senate Spars Over Financial Reform Bill

Consumers Union Calls on Big Banks and Wall Street to Stop "Feasting" on Consumers, Presses Congress to Pass Reform

WASHINGTON, April 28 /PRNewswire-USNewswire/ -- As the U.S. Senate debates tougher rules for banks and Wall Street, Consumers Union today hosted an elaborate stunt on Capitol Hill to advocate for financial reforms.

(Photo: http://www.newscom.com/cgi-bin/prnh/20100428/DC95330)

The organization unveiled Banker Man -- a six-foot-tall actor in a giant, inflatable costume who roamed the busy streets between the Capitol building and Union Station.  

The pinstriped, cigar-chomping Banker Man has a giant mouth that "swallowed up" people in his path.  These "innocent bystanders" were actually stunt men and women dressed as tourists and commuters.  Consumer advocates were on hand to deliver the message that banks should stop "feasting" on consumers with outrageous fees and hidden costs.  The advocates called on Congress to pass financial reform now.

A video of Banker Man on the prowl is online at DefendYourDollars.org.  

For years, Consumers Union, the nonprofit publisher of Consumer Reports, has been pushing for reforms to stop financial institutions from ripping off consumers with hidden penalties and skyrocketing rate increases.  The organization has argued that poor oversight of financial services allowed some banks and Wall Street firms to engage in reckless behavior that sparked record home foreclosures and huge job losses.

CU is advocating for the stricter rules and greater oversight provided in the Senate financial reform bill.  As the Senate weighs different elements of the bill, CU has urged lawmakers to support the creation of a strong, independent financial watchdog to protect consumers against unfair financial practices and clear new rules to prevent banks and other financial companies from undermining the economy.

For more information about Consumers Union's push for financial reform, visit DefendYourDollars.org.

Consumers Union of United States, Inc., publisher of Consumer Reports®, is a nonprofit membership organization chartered in 1936 to provide consumers with information, education, and counsel about goods, services, health and personal finance. Consumers Union's publications and services have a combined paid circulation of approximately 8.3 million. These publications regularly carry articles on Consumers Union's own product testing; on health, product safety, and marketplace economics; and on legislative, judicial, and regulatory actions that affect consumer welfare. Consumers Union's income is solely derived from the sale of Consumer Reports®, its other publications and services, fees, noncommercial contributions and grants. Consumers Union's publications and services carry no outside advertising and receive no commercial support.

SOURCE Consumers Union

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