Obama Vows to Protect Financial Reforms

This story appeared in Bank Digest.

President Barack Obama said he would refuse to let Republicans in Congress “delay, defund and dismantle” new financial reform measures, including the recent step by the Consumer Financial Protection Bureau to monitor credit reporting agencies. In his Oct. 27, 2012, weekly radio address, Obama noted that “companies that put your credit score together can make mistake. They may think you had a loan or a credit card that was never yours… And when they mess up, you’re the one who suffers.”

Now, however, the CFPB can bring customer complaints directly to the company, “they’ll give you a tracking number, so you can check back and see exactly what’s being done on your behalf,”

“We’ve come too far—and sacrificed too much—to go back to an era of top-down, on-your-own economics,” Obama asserted.