Obama says consumer agency will boost enforcement and make financial products understandable
By Martin Crutsinger, APTuesday, June 30, 2009
Obama: consumer agency to enforce financial rules
WASHINGTON — President Barack Obama says his new Consumer Financial Protection Agency will protect Americans from unscrupulous practices and make financial products easier to understand.
The president sent Congress a 152-page bill to create the new agency, a key element in the sweeping overhaul of financial rules the administration unveiled two weeks ago.
Obama says the agency will ensure that consumers are provided with simple, transparent and accurate information on financial products like credit cards and mortgages.
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