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Laws and regulations should strengthen and enhance consumer protection. Policymakers should enhance protections against unfair, deceptive, or abusive practices.

Federal legislation should provide a minimum level of consumer protections. It should preserve states’ ability to provide additional protections to consumers. 

Regulators should ensure robust consumer protections in the financial marketplace. They should provide effective oversight of the financial industry.

Policymakers and financial institutions should protect consumers with diminished capacity and others at risk of financial exploitation. 

All depository institutions should be required to provide basic-banking services affordable to customers with low incomes. This includes low-cost basic checking or savings accounts.

Financial institutions should offer account features and services that empower financial caregivers while protecting older adults who are under their care. These include: 

Financial institutions should be required to offer consumer protections related to fees and disclosures. This includes requiring fees to be fair, reasonable, and clearly disclosed.

Consumers should have access to credit on fair and reasonable terms.

Policymakers should establish reasonable interest rate ceilings for all lenders. These rates should correspond to prevailing Treasury Bill rates.

Product information and legal and disclosure documents should be clear and accurate.