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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