Main Street needs Senate's financial reform legislation Lexington Herald Leader
We are now on the path to recovery. But even today, far too many Americans are struggling to find work and far too many small businesses cannot get the credit they need to operate and grow.
We cannot let the memory of the crisis fade without taking action.
The bill currently before the Senate will ensure that Americans have the information they need to make the financial decisions that are right for them.
As anyone knows who has ever had to wade through the jungle of mortgage disclosure forms when buying a house, or had their credit card interest rates jump without warning, or tried to finance a car only to have the terms changed after purchase, our current approach to consumer financial protection doesn't work.
Today, seven different federal agencies are supposedly responsible for consumer financial protection. But none of them sees consumer protection as its top priority. And "non-banks" like mortgage brokers and auto finance companies operate with virtually no federal oversight at all.
