Consumer Financial Protection Agency Proposal
2009-07-08T19:41:11-04:00https://ximage.c-spanvideo.org/eyJidWNrZXQiOiJwaWN0dXJlcy5jLXNwYW52aWRlby5vcmciLCJrZXkiOiJGaWxlc1wvNDE1XC8yODc1MzQtbS5qcGciLCJlZGl0cyI6eyJyZXNpemUiOnsiZml0IjoiY292ZXIiLCJoZWlnaHQiOjUwNn19fQ==Witnesses testified about the Obama administration’s proposal to create a new agency responsible for consumer protection with regard to financial products and services. The Consumer Financial Protection Agency would have the power to write rules affecting the financial-services industry, educate consumers on financial matters and conduct research on consumer disclosures and other matters. It also would have primary enforcement authority of all consumer-protection statutes in the financial arena. Witnesses addressed concerns about the scope of the agency’s responsibilities and transferring the management of such matters from the Federal Trade Commission.
Witnesses testified about the Obama administration’s proposal to create a new agency responsible for consumer protection with regard to financial… read more
Witnesses testified about the Obama administration’s proposal to create a new agency responsible for consumer protection with regard to financial products and services. The Consumer Financial Protection Agency would have the power to write rules affecting the financial-services industry, educate consumers on financial matters and conduct research on consumer disclosures and other matters. It also would have primary enforcement authority of all consumer-protection statutes in the financial arena. Witnesses addressed concerns about the scope of the agency’s responsibilities and transferring the management of such matters from the Federal Trade Commission. close
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Michael S. Barr Assistant Secretary Department of the Treasury->Office of Financial Institutions Policy
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