Dearborn, MI - Congressman John D. Dingell (D-MI15) made the following statement today at The Save Your Savings event on the campus of the University of Michigan-Dearborn. Congressman Dingell was one of several experts speaking on how to avoid common financial frauds and scams.
“The Congress is working hard to protect American citizens from fraud and unscrupulous practices. We have passed the ‘Helping Families Save Their Homes Act of 2009’ which would establish a nationwide mortgage fraud task force overseen by the Department of Justice. I am now working with Congressman Bobby Rush to write a bill that would address unfair and deceptive acts in consumer lending, especially related to the used car market. While it’s important that we focus on home foreclosures, we also shouldn’t forget that for many working families, cars are their second most valuable asset. In such economically troubled times as these, we must be more vigilant than ever to prevent bad actors from taking advantage of us to make a quick buck.”
The Save Your Savings event was sponsored by Congressman Dingell and Senator Carl Levin. There was a standing room only crowd in a room built to hold 125 people.
