Download this testimony as a PDF. Introduction: This testimony describes why we recommend that consumer protection for financial products and services be consolidated within a new federal Consumer Financial Protection Agency. A review of the history of consumer protection by the Federal Reserve and the
Harvard Professor Elizabeth Warren explains her idea of creating a Consumer Financial Protection Agency in this Business Week piece. Congress is considering legislation which would create such an agency. Here’s an excerpt from her article: President Obama’s proposed Consumer Financial Protection Agency would make loan
AFR’s Message Memo One-pager on the CFPA One-pager on Derivatives
Support Strong Protection for Consumers Consumer Financial Protection Agency Meaningful financial reform must make the marketplace safer for all Americans. It must include an independent Consumer Financial Protection Agency (CFPA) to ensure fairness and safety for American consumers. Without it, the reform effort will fail