But imagine to allow these kinds of complex instrumentalities to be in the marketplace and not be regulated. That's what will be regulated as we move forward with financial reform. There will be a protection agency for consumers that will help us understand, hopefully--as I understand it, a credit card statement form contract was 1 page and 700 words in 1985. Today it's something like 30 pages. The Consumer Financial Protection Bureau will provide greater assistance to Main Street.
Jackie Speier: “But imagine to allow these kinds of complex instrumentalities to be in the marketplace and not be regulated. That's what…”
Editor's note · Context
The speaker discusses the need for regulation in financial reform and the role of the Consumer Financial Protection Bureau.
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