The bill creates a new independent consumer protection agency that will ensure that consumers purchasing mortgages and using credit cards get accurate information. It also will protect consumers from hidden fees, terms and abusive policies. Improves transparency and accountability by providing new rules for credit rating agencies, eliminating loopholes used to hide abusive practices, and preventing hidden risky transactions associated with dangerous financial products.

It also helps end too-big-to-fail bailouts by establishing an orderly process for winding down failed banks and financial firms, preventing too-big-to-fail banks from being created and extending rigorous oversight of the activities of more financial firms.

Tom Mullins has already taken the side of credit card and insurance companies, and his opinions on the Wall Street reform bill are sure to take care of big banks and their interests, not the interests of the people of New Mexico.

DPNM spokesperson James Hallinan said in a press release, "New Mexicans deserve to know where Tom Mullins stands on Wall Street reform. Does Mr. Mullins stand with New Mexicans who are sick of being hurt by Wall Street's irresponsibility or does he want to protect the very same big Wall Street banks who helped cause an economic collapse?"

This bill is an important step in making sure that Wall Street banks no longer profit from their irresponsible behavior, which hurts the families in New Mexico. This bill will make sure that big banks and Wall Street are held accountable, improve oversight and transparency, put an end to the bank bailouts and end predatory financial practices so that New Mexico can get back on the right track; and Ben Ray is making sure that happens.