The Financial Product Safety Commission, an idea that originated in the pages of Democracy by Elizabeth Warren, is on the drawing board at the Obama White House, reports The Washington Post. The Post reports:
The Obama administration is actively discussing the creation of a regulatory commission that would have broad authority to protect consumers who use financial products…[Elizabeth] Warren wrote in a 2007 article in the journal Democracy that the government had failed to protect American consumers in their relationships with financial companies.
You can read Warren’s article here.
And you can read the Post‘s piece here.