In his October 27, 2012 weekly address to the Nation, President Obama praised recent efforts of the Consumer Financial Protection Bureau. Among the highlights:
“[The CFPB’s] only mission is to fight for you.”
“[The CFPB] recently ordered three big credit card companies to return more than $400 million dollars to folks who were deceived or mislead . . . that’s what Wall Street Reform is all about . . .”
“[Republicans in Congress] backed by an army of financial industry lobbyists, they’ve been waging an all out battle to delay, defund and dismantle these new rules.”
” . . .the true engine of job creation in this country is the private sector — not the government.”
“But I also believe that the free market has never been about taking whatever you want, however you can get it.”
“We’ve come too far and sacrificed too much, to go back to an era of ‘top-down, on your own’ economics.”
The President’s full address can be viewed here.