Meanwhile, Prime Minister Kan outlined a stimulus package of 900 billion yen ($10.8 billion), about 0.2 percent of Japan's gross domestic product, aimed at beating deflation, protecting jobs and bolstering domestic investment and consumer spending.
So what happened to the part of the bureau's mission statement that says it would serve as the "cop of the beat" to protect Americans from these types of financial shenanigans?
"Congress shouldn't forget that a lack of consumer protection led to the Wall Street-led collapse of the economy and only a consumer cop on the beat can protect consumers from it happening again," Ed Mierzwinski, the report's author and the consumer program director of the U.S. Public Interest Research Groups, said in a statement.
Notably, my proposal will put the federal government's most experienced privacy cop, the FTC, back on the beat to protect consumers' online privacy.
"Notably, my proposal will put the federal government's most experienced privacy cop, the FTC, back on the beat to protect consumers' online privacy," Pai wrote.
So the CPFA is designed to create an independent cop on the beat to protect consumers and police the banks and credit card companies.
Notably, when President Obama launched his Privacy Bill of Rights effort in January of this year, he did it from within the bowels of the Federal Trade Commission, as the FTC has traditionally been the privacy cop on the beat serving and protecting U.S. consumers.
He said his mother, then a baby, survived because her grandfather's Arab landlord posted himself in the doorway and took a savage beating to protect the family.
"I don't understand how anyone, Democrat or Republican, can be against keeping teachers in the classroom, keeping cops on the beat and keeping firefighters protecting our homes," said Representative Steny H. Hoyer, Democrat of Maryland and the majority leader.
