Obama also wants to reform banking products like bad mortgages and credit cards. He wants full disclosure, consumer protection measures, and a consumer protection agency. Will Nader blush.
Surprise, banks don't like the idea.
McClatchy: Banks fight to kill proposed consumer protection agency
The Obama administration is asking Congress to create a new Consumer Financial Protection Agency to regulate consumer financial products ranging from credit cards to mortgages, and to simplify disclosure about them all.
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