[Congressional Record (Bound Edition), Volume 156 (2010), Part 6]
[House]
[Page 8536]
[From the U.S. Government Publishing Office, www.gpo.gov]




                              {time}  1030
                     CONSUMER FINANCIAL PROTECTION

  (Mr. ELLISON asked and was given permission to address the House for 
1 minute.)
  Mr. ELLISON. Mr. Speaker, consumer financial protection is not a 
punishment to business. It is a level playing field so that consumers 
and businesses who want to transact a fair deal can do so. Consumer 
financial protection, which is in the financial reform bill, will allow 
consumers and lenders who want to do a fair deal to get rid of the fine 
print, the hidden fees, the tricky terms that landed our economy in 
such an awful condition.
  We're climbing out. We're addressing the issues that affect the 
American people, and we're doing it now. The fact is that we want to 
see good lenders stay good; lenders who want to have clear terms, well 
disclosed, underwritten to make sure the consumers can pay that money 
back, and what we want to see in this economy. And people who want to 
have fine terms, funny terms, tricky terms or hidden fees will not be 
able to do that. Our economy will be better for it. It will be stable, 
transparent, and clear, and we will see continued economic growth in 
the American economy once we pass consumer financial protection.

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