Obama Says Finance Rules Will Guard Against ‘Predatory’ Lending
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President Barack Obama said new financial regulations being debated by the U.S. Senate will protect consumers from “the predatory practices of unscrupulous lenders” and prevent future financial crises.
Obama, in his weekly address on the radio and Internet, said the legislation will ensure that consumers get the information they need to make financial decisions and “level the playing field” by subjecting all lenders to tough oversight.