Barack Obama

“ Thanks to Wall Street Reform, there’s finally an independent Consumer Financial Protection Bureau with one mission: to protect American consumers. Already, they’ve gone after predatory or unscrupulous mortgage brokers, student lenders, credit card companies, and they’ve won –putting nearly $11 billion back in the pockets of more than 26 million consumers who’ve been cheated. ”

“ And we’re working to protect even more families. Just this week, we announced that we’re cracking down on the worst practices of payday lenders on military bases, so that our troops and their families don’t wind up trapped in a vicious cycle of debt. As long as I’m President, I’m going to keep doing whatever I can to protect consumers, and our entire economy from the kind of irresponsibility that led to the Great Recession in the first place. ”

“ This law is only bad for business if your business model depends on recklessness that threatens our economy or irresponsibility that threatens working families. We can’t put the security of families at risk by returning to the days when big banks or bad actors were allowed to write their own rules. ”