Martha Coakley and Elizabeth Warren

The Right Way to Regulate

Martha Coakley and Elizabeth Warren explain why we are in desperate need of a federal agency that protects consumer.

In the weeks ahead, Congress may finally provide American families with a seat at the financial regulatory table in Washington, D.C. If Congress passes the Consumer Financial Protection Agency (CFPA) Act of 2009, on which the House Financial Services recently reported favorably, it will establish, for the first time, a federal agency whose sole mandate is to evaluate financial products through the lens of consumer fairness. By putting the tools to evaluate loans in the hands of borrowers, it would also…