We need to give consumers more protection and more power in our financial system. This is not about stifling competition, stifling innovation; it’s just the opposite. With a dedicated agency setting ground rules and looking out for ordinary people in our financial system, we will empower consumers with clear and concise information when they’re making financial decisions.
BARACK OBAMA, speech, Apr. 22, 2010
“My theory is that if we regulate all the banks out of business, that will maximize choice for the consumer, because the easiest decision to make is the one where there’s nothing to decide between.”