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I will continue top do what i can to foster and support the dynamic private sector. we have all seen what happens when there's inadequate oversight and insufficient transparency on wall street. the reforms making their way through congress will hold wall street accountable. so we can help prevent another financial crisis like the one we are still recovering from. we will put in place the toughest consumer financial protects in our history while creating an independent agency to enforce them. through this agency, we will combine under one roof the consumer protection functions that currently ar...

Consumer financial protections in our history while creating an independent agency to enforce them. through this agency we'll combine under one roof the consumer protection functions that currently are divided among half a dozen different agencies. now there will be one agency whose sole job will be to look out for you. credit card companies will no longer be able to mislead you with pages and pages of fine print. you will no longer be subject to all kinds of hidden fees and penalties or the predatory practices of unscrupulous lenders. instead we'll make sure the credit card companies and mort...

Whose sole job will be to look out for you. credit card companies will no longer be able to mislead you with pages and pages of fine print. you will no longer be subject to all kinds of hidden fees and practices or the predatory practices of unscrupulous lenders. >> congressman, what do you make of this independent agency? is this going to be oversight in the financial documents? there's going to be alarms set off. what is the power of this independent agency? >> it's a good thing. i'm glad that we did it. it's an important step but, again, it doesn't get to the heart of the matter. it's becom...

Better regulated for the sake of main street. he made the case how the legislation is working it's way through congress will benefit americans. >> first and foremost, you have a stake in it if you've ever been treated unfairly by a credit card, misled by pages of fine prints or ended up paying fees and penalties before. you have a stake if you took out a home loan, car loan or student loan and targeted by the predatory practices of unscrupulous lend zblirs in addressing that, the other goal is to prevent another financial crisis like the one in 2008. the bill is supposed to establish to red fl...

Says wall street needs to be better regulated for the sake of main street. he made the case how the legislation is working it's way through congress will benefit americans. >> first and foremost, you have a stake in it if you've ever been treated unfairly by a credit card, misled by pages of fine prints or ended up paying fees and penalties before. you have a stake if you took out a home loan, car loan or student loan and targeted by the predatory practices of unscrupulous lend zblirs in addressing that, the other goal is to prevent another financial crisis like the one in 2008. the bill is su...