Sentence examples for consumer protection function from inspiring English sources

And he preserved the consumer protection function of the agency".

As the administration notes in its proposal, three of the four federal banking agencies have mostly or entirely separated the consumer protection function from the rest of the agency.

"The consumer protection function should be removed from federal banking regulators and housed in its own agency whose sole mission is consumer protection," she told a Senate committee this week.

So, for example, other regulators don't want to lose influence to the Federal Reserve, and the Fed doesn't want to give up its consumer protection functions — two changes that Treasury proposes.

Although there has been concerted opposition to the creation of a new bureaucracy, there is certainly some logic to the idea of consolidating existing consumer protection functions in one agency.

So the consumer protection bureau serves a vital function.

"ABA lobbyists now aggressively insist that separating consumer protection and safety and soundness functions would unravel bank stability," Warren writes.

It featured disagreements over two cornerstones of the administration's financial regulation plan — a new consumer protection agency to take over the functions now performed by the Federal Reserve, and a greater role for the Fed in overseeing large institutions that could pose systemic risks if they become troubled.

"There's a quasi-ideological divide between people who think consumer protection legislation is a good idea, a worthwhile function of the government in general and the Fed in particular, and those who think it's not," Mr. Blinder said.

Furthermore, the need to strengthen the role of consumer protection agencies was highlighted.

Mr. Bernanke said the writing and enforcement of consumer protection rules "are complementary" to the other bank supervisory functions performed by the Fed and those important benefits "would be lost through this change".