Meaningful rules in the consumer credit market can accelerate economic recovery. Rules would increase consumer confidence and, more importantly, weed out all the tricks and traps that sap families of billions of dollars annually.
Elizabeth WarrenThe poor pay more, and that's one of the reasons people get trapped at the bottom of the economic ladder.
Elizabeth WarrenThe financial collapse of 2008 got its start with predatory mortgages, that werenโt sold by community banks and credit unions, they were sold by fly by night mortgage brokers who had almost zero federal oversight and then the big banks looked over, saw the profit potential and they wanted it bad. So they jumped in and sold millions of these terrible mortgages while the bank regulators just looked the other way.
Elizabeth Warren