Consumer Protection, Now That’s A Noble Idea
Posted By thestatedtruth.com on October 1, 2009
Bernanke Urges ‘Strong’ Consumer Protection in House Testimony
By Scott Lanman and Craig Torres
Oct. 1 (Bloomberg) — Federal Reserve Chairman Ben S. Bernanke told lawmakers that protecting consumers of financial services is “vitally important,†while omitting prior criticism of an Obama administration proposal to shift such powers from the Fed to a new agency.
“It is vitally important that consumers be protected from unfair and deceptive practices in their financial dealings,†Bernanke said in testimony today to the House Financial Services Committee. “Strong consumer protection†helps preserve savings and promote confidence in financial firms and markets, he said. More…..
http://www.bloomberg.com/apps/news?pid=20601087&sid=afVE59L6o3VQ
Comments