Rob Simmons responded to Sen. Dodd’s credit card reform act today with the following:
“Credit card reform is long overdue and if Sen. Dodd wasn’t so busy collecting hundreds of thousands of dollars in campaign donations from big banks, credit card companies, the pay day loan industry and pawn shops we might have had reform years ago. This bill is a belated improvement on the current system, but has more to do with covering Sen. Dodd’s extremely exposed hind end than with protecting consumers.”
Update 8:25pm: The DSCC released the following response:
“Rob Simmons helped create this very mess by championing the credit card industry when he was in Congress, and now with the Senate on the verge of passing a strong solution thanks to Chris Dodd’s leadership, all he can do play politics. Instead of supporting legislation that would strengthen consumer protections, he’s resorting to political attacks. His response may affirm his affinity for old Washington style politics, but it is not going to help families secure their personal finances.”
However, Simmons’s attack came after the DSCC released a statement earlier today criticizing Dodd’s opponents for their silence on the bill; hence the testy tone.