The White House is aiming to replace deception in the finance and credit business with transparency, accountability and fairness. At 2pm ET today President Obama will talk about a proposal backed by Congressman Keith Ellison to rewrite “the rules of the road” for the financial sector and establish a Consumer Financial Protection Agency.
In this video from the White House, Austan Goolsbee, from the White House’s Council of Economic Advisors, goes over the CFPA and the President’s approach to financial regulatory reform. You can watch the President’s speech at www.theuptake.org. If you miss it, look for it to be posted here soon.