President Obama talks fairness and consumer protection
The President discussed issues of fairness and consumer protection this week, including the Consumer Financial Protection Bureau, which recently saw former Ohio Attorney General Richard Cordray's nomination to head the watchdog agency blocked by Congress. Aiming criticism at Republicans, the President championed the Consumer Protection Agency as a means to achieve fairness for people who are vulnerable to unfair practices:
"Do Republicans in Congress think our financial crisis was caused by too much oversight of mortgage lenders or debt collectors? Of course not. And every day America has to wait for a new consumer protection watchdog is another day that dishonest businesses can target and take advantage of students, seniors, and service members.
So I refuse to take 'no' for an answer. Financial institutions have plenty of high-powered lawyers and lobbyists looking out for them. It's time consumers had someone on their side."
President Obama also reiterated his push for Congress to extend the payroll tax. As for a holiday message to lawmakers in Washington? The President had one simple request - Don't be a Grinch:
"Congress cannot end the year by taking money out of the pockets of working Americans. Now is not the time for playing politics. Now is the time to do what's right for the American people.
No one should go home for the holidays until we get this done. So tell your Members of Congress, don't be a Grinch. Tell them to do the right thing for you and for our economy."
President Obama's Weekly Address:
