Foreword: Consumer Financial Protection
The Centerpiece of Wall Street Reform
The economic crisis in the fall of 2008 exposed a broken financial regulatory structure. Pieced together over several decades, it failed to protect the Nation’s economic security and brought the country to the brink of financial collapse. While the $700 billion Federal bailout of the financial system may have averted a total meltdown, it left unaddressed many of the problems that triggered the crisis — including allowing large banking institutions to become too big to fail and deceptive and abusive lending practices by financial enterprises. As a result, Congress is now considering the broadest reform of laws governing banks, investment…
