That means, for example, that when it comes to the mortgage market, we will be able to ensure that brokers, originators, and servicers play by the same rules regardless of their charter.
We are here today to discuss the Dodd-Frank Act and its implications for consumers, businesses, and the economy. From my, admittedly biased, perspective, the consumer bureau is one of the Dodd-Frank Act’s most significant reforms.
We are the first agency accountable for making sure that consumer finance markets work for American families. To carry out that mission, the law gives us a wide range of tools – from supervision, to rulemaking, to research, to financial education, to enforcement, to the ability to handle consumer complaints.
Testimony of Raj Date Before the Subcommittee on Financial Institutions and Consumer Credit and the Subcommittee on Oversight and Investigations
The Bureau will work to promote fairness, transparency, and competition in the markets for mortgages, credit cards, and other consumer financial products and services.