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CFPB Brochure: Financial Protections Consumers Need Now

Financial protections consumers need now

The nation’s top cop for policing the financial services industry and guarding consumers is the new federal Consumer Financial Protection Bureau. It doesn’t assume its full powers until July, but detractors are already labeling the bureau anti-bank, anti-growth, and anti-American and vowing to thwart it.

C’mon. Consumers Union has sought transparency, truth-in-labeling, and safety measures for everything from canned peas to cars, and it’s high time for financial services to come into the fold. It’s perhaps a sign of how much work lies ahead of the bureau that the idea of safe and understandable financial products and practices is being portrayed as radical. Here’s what we believe the agency needs to do…