NewsOK recently published an article about Elizabeth Warren, an Oklahoman making a stir from Washington DC to Wall Street. Click here to read the full article.
Her goal, she said, is what it has been throughout the 20 years that she’s been researching financial data, particularly as they relate to American consumers, whom she believes have been victimized by predatory practices.
“I want to make it so regular families can read a credit card agreement in four or five minutes and fully understand what the terms are. No tricks. No traps. No things that you don’t figure out what’s happening until after it bites you and they charge you the $39 and raise your interest rate to 29 percent,” she said.
Financial insiders point to Warren’s lack of industry experience as evidence that she doesn’t grasp the complexities of their business or the impact regulatory changes would have.
“I do understand,” she said. “It’s that we disagree. There are some things that I don’t think are all right, and people who are making money off of it think it’s just fine.”