Political Quotes

“I rise today to discuss the amendment that Senate Republicans are offering to greatly improve consumer financial protection. This amendment recognizes that our existing financial regulatory system fails to adequately provide consumer protection. Our system is broke, and it needs fixing. The recent financial crisis has revealed that our financial regulators were asleep at the switch and had neglected to uphold their basic responsibilities for consumer protection. Far too often, our regulators were more concerned about pleasing the entities they regulated than looking out for consumers. It is clear that we need to refocus the priorities of our financial regulators and ensure that consumer protection gets the attention it deserves. Make no mistake. Republicans want to strengthen consumer protection. We need to make sure that consumers get clear and understandable disclosure so that they can make good decisions. We need to make sure that regulators have sufficient authority to combat fraudulent practices. We also need to make sure that our consumer protection laws and regulations keep up with changes in our dynamic and innovative marketplace.”