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Oall Ftreet Aeformjune2010[1]

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Published in: Economy & Finance, Business
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  • 1. T H E B E N E F I T S O F WA L L ST R E ET R E F O R MOur economic growth and prosperity depend on a strong, robustfinancial sector, but we’ve seen what happens when there’s inadequateoversight and insufficient transparency on Wall Street. We can’t build astrong economy in America in the long run without ending this statusquo and laying a new foundation for growth and prosperity.Wall Street reform doesn’t just help create a more stable economy; itwould actually improve the lives of everyday American families. Hereare five benefits that everyone should know: 1 Reform forces credit card and mortgage companies to play by the rules. No more hidden fees or pages of fine print. 2 Families who are hoping to buy a home or pay for college are put on a level playing field with lenders. Reform ensures they’ll get the information they need presented clearly and concisely, so they can make good decisions. The same goes for small businesses and community banks that play fair and deserve to see their businesses grow. 3 The legislation cracks down on predatory lenders looking to mislead people into taking on irresponsible debt. 4 Wall Street reform establishes an independent agency—the Consumer Financial Protection Agency—with one job: to protect consumers and enforce the new consumer financial protections, which would be the strongest ever enacted. 5 Finally, American taxpayers will never again be asked to bail out the big banks that are “too big to fail.” Let’s be absolutely clear about this, no matter what our opponents in Congress say. my.BarackObama.com/WallStreetReform

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