These excerpts are from a 2011 debate in the U.S. Congress concerning financial reform.One of the provisions of [a proposed bill] that will hinder economic growth and the creation of new jobs is the mass Bureau, or CFPB. Everyone supports consumer protection, but the CFPB was given virtually unlimited power to dicts that consumers and small businesses can obtain from their bank or other credit provider. . . . The burden of this credit rationing will fall most heavily on lower-income and middle class families, as new jobs. Rather than being protected, consumers are likely to be denied the products they want and need.We have all seen the consequences of a regulatory system in which no single regulator has the authority and the com financial markets work for American families. For years, we have seen the growth of fine print that hides important an consumers to know what they are really getting into when they sign on the dotted line. . . . As a country, we are all padWhich basic assumption behind the committee report is not a basic assumption behind Warren’s statement?A. Concentrated authority is a threat to freedom.B. Economies depend on borrowed money.C. Conflicting authority causes uncertainty.D. Government oversight is unnecessary.
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