Banks will now be pressured to make even more risky, low-income loans. Obama has sent to Congress his proposal to create a politically-correct Consumer Financial Protection Agency. "The agency would be in charge of enforcing the Community Reinvestment Act, a law that prods banks to make loans in low-income communities." Government pressure on banks to make low-income loans was a key reason for the mortgage meltdown and the financial crisis. Yet Obama's disturbing proposal would empower the new agency to enforce the Community Reinvestment Act without regard for banks’ financial safety and soundness. Obama's proposed financial rules overhaul would reinforce the corrupt political status quo while mandating more risky, low-income loans. The Community Reinvestment Act was a key contributor to the financial crisis. The mortgage crisis was also caused by the reckless government-sponsored mortgage giants Fannie Mae and Freddie Mac, and by federal affordable-housing mandates. But Obama's proposed financial rules overhaul does absolutely nothing about Fannie Mae and Freddie Mac, admits Obama's Treasury Secretary, tax cheat Timothy Geithner, even though he admits that "Fannie and Freddie were a core part of what went wrong in our system." Worse, Obama's plan is "largely the product of extensive conversations" with two lawmakers responsible for the corrupt status quo, Chris Dodd and Barney Frank, and it expands the reach of regulations that have been used by left-wing groups to extort pay-offs from banks.