There's a push in our nation's capital to create a financial consumer protection agency.

        It would make credit card and mortgage information more understandable --and hold brokers and investment professionals to higher standards.

        The financial industry is resisting some of those changes but -- local leaders want to see them happen.

        When real estate collapsed and Wall Street crashed, consumers complained they'd been suckered into complex financial products they, and even some sellers didn't understand.

       KGUN 9 on your Side's been telling the story of consumers like Ralph Godoy, hit with crushing overdraft fees before his bank even told him they were mounting up.

        The bank waived the fees after 9 On Your Side got involved.

        He says it would have been good to have an agency looking out for his interests.

        "I feel the regulations which exists right now is really for big business--the corporations.  It does not protect the consumer.  The consumer has to be aware of the small writing whether it's inside a mortgage whether it's inside opening a new account."

        Arizona Attorney General Terry Goddard says even when a consumer wades through the fine print it seems designed to make sure they don't really know what they agreed to.

        He joined with the Southwest Center for Economic Integrity, and the Primavera Foundation to speak up for a bill that would meet   President Obama's call for a consumer protection agency focused on investments, banks and other lenders.

        Arizona Attorney General Terry Goddard says, "To say that the current hodge-podge of federal misregulation actually works is a total mistake.  They say, oh, no, we don't need this agency, the Controller of the Currency and the Office of Thrift Supervision and the other regulators who are supposed to have been doing this job are just fine, give them another chance."

        Ralph Godoy says he hopes whatever comes out of Congress has enough teeth to truly defend the consumer.

        Congressman Barney Frank who chairs the House Finance Committee says the bill has a good chance of passing but probably not with all the protections the President's asked for.