National Consumer Protection Week, 2010

Proclamation 8482 of March 5, 2010

National Consumer Protection Week, 2010

By the President of the United States of America

A Proclamation

Every day, American consumers decide how and where to
spend their money. Their decisions have far-reaching
effects for both their financial well-being and our
Nation's economic stability. National Consumer
Protection Week (NCPW) gives all Americans an
opportunity to become better-informed consumers.

This year, NCPW focuses on the importance of being a
careful consumer at every stage of life, from grade
school to retirement. To help our children grow into
financially responsible adults and avoid frauds and
scams, we must help them understand the marketplace.
Parents and educators can play a role by teaching them
about advertising and marketing, smart financial
practices, and keeping personal information safe and
secure.

My Administration is committed to protecting American
consumers. Last month, major reforms went into effect
with the Credit Card Accountability, Responsibility,
and Disclosure Act of 2009. This landmark legislation
reins in deceptive tactics that unfairly penalize
responsible consumers with unreasonable costs. However,
consumers must also learn to avoid predatory practices
and manage their financial resources more effectively.
That is why I established the President's Advisory
Council on Financial Capability, which is looking for
new ways to help individuals make informed financial
decisions.

Still, our Government must do more to stand up for
consumers. From excessive bank account overdraft fees
to abusive mortgage lending practices, our broken
financial system produces profits at the expense of
American families. I support the creation of an
independent Consumer Financial Protection Agency to
safeguard ordinary Americans as they navigate the
financial marketplace.

Giving Americans of all ages the resources they need to
make wise buying decisions is the responsibility of
Federal, State, and local consumer protection agencies,
private sector organizations, and consumer advocacy
groups. This week, I encourage all Americans to visit
Consumer.gov/NCPW for informative and interactive
resources to help them take full advantage of their
consumer rights.

NOW, THEREFORE, I, BARACK OBAMA, President of the
United States of America, by virtue of the authority
vested in me by the Constitution and the laws of the
United States, do hereby proclaim March 7 through March
13, 2010, as National Consumer Protection Week. I call
upon government officials, industry leaders, and
consumer advocates across our Nation to share
information about consumer protection; and I encourage
all Americans to learn more about marketing and
business, whether they are shopping at their local
store or in the global online marketplace.

IN WITNESS WHEREOF, I have hereunto set my hand this
fifth day of March, in the year of our Lord two
thousand ten, and of the Independence of the United
States of America the two hundred and thirty-fourth.