Separate Consumer Watchdog Agency From The Fed, Says Senator

Sen. Bernie Sanders (I-Vt.) says Thursday that the the proposed Bureau of Consumer Financial Protection should not be housed inside the Federal Reserve. (0:21)
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Upcoming Amendment To House Bill Could Spell Trouble For Car Customers, Says Consumer Rights Activist

Susan Weinstock, Director of the Financial Reform Campaign for Consumer Federation of America, says an amendment proposed by Rep. John Campbell (R-Calif.) to the House Finance Services Committee on the Consumer Financial Protection Agency bill will exemplify auto lenders from the agency. The Consumer Federation for America is asking the committee to deny the amendment due to shady lending tactics used by some auto lenders. (0:16)
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Auto Lenders Are Using Shady Tactics On Consumers, Says Expert

Rosemary Shahan, President of Consumers for Auto Reliability and Safety, says auto-lenders often perform a "bait and switch" and increase interest rates on auto loans after a consumer has purchased a car. She says that this is why auto-lending ought to be included in the jurisdiction of the Consumer Financial Protection Agency. (0:19)
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U.S. Treasury Official Says Financial Institutions Need Basic Regulatory Standards

U.S. Treasury Department Director for Consumer Protection Peggy Twohig says that with a baseline of regulatory standards for financial institutions, innovation for the consumer can continue to thrive. Twohig said the Obama administration’s proposed Consumer Financial Protection Agency would create these standards. (0:31)
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Status Quo Of Final Regulation Unacceptable, Says U.S. Treasury Official

U.S. Treasury Department Director for Consumer Protection Peggy Twohig says that the the monitoring of the financial system was unacceptable in the past. She says the Obama administration’s proposed Consumer Financial Protection Agency would help better regulate financial services and protect consumers. (0:47)
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Consolidate Financial Regulation, Says U.S. Treasury Official

Peggy Twohig, the U.S. Treasury Department's Director for Consumer Protection, says that the Obama administration’s proposed Consumer Financial Protection Agency aims to consolidate the authority of regulation all into one agency. Twohig said it is necessary for all financial institutions to be bound to a specific set of standards. (0:25)
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Geithner: New Consumer Protection Agency Must Write And Enforce Rules

Treasury Secretary Timothy Geithner explains why the newly proposed Consumer Financial Protection Agency must have the authority to both write and enforce rules for consumer protection. (0:33).
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Congressman Slams Plans For Regulatory Agency As "Orwellian"

Rep. Jeb Hensarling (R-Texas) harshly criticizes the proposal to create a Consumer Financial Protection Agency, calling it "one of the greatest assaults on economic liberty in my lifetime." He says that the agency would reduce choices for Americans and will essentially be "Orwellian". (1:12)
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Finance Expert Says Regulatory Reform Is Needed, But Opposes New Agency

Steve Bartlett, the president and CEO of the Financial Services Roundtable, says that regulatory reform is necessary and consumer protection is needed. However, he opposes the creation of a Consumer Financial Protection Agency. Bartlett recommends strong national consumer protection standards instead. (0:42)
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