Exceprt from The Consumer Financial Protection Bureau Blog
September 16, 2011
Written by The CFPB Web Team
Yesterday, Raj Date spoke in Philadelphia about the lessons of the 2008 financial crisis for the consumer bureau. Before taking questions from the audience, Mr. Date, Special Advisor to the Secretary of the Treasury, outlined three basic themes for our work.
Number one: People should be able to know before they owe. More paperwork doesn’t mean better disclosure.
Number two: Common-sense rules of the road can prevent bad practices from harming consumers.
Number three: The rules of the road should apply to everyone – and they should be consistently monitored and enforced. (continued)