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Congress should ensure that the CFPB is a strong and independent consumer protection regulator. This includes maintaining CFPB’s existing independent funding.

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.

Bank regulators should ensure that all banks fulfill their obligations under the Community Reinvestment Act (CRA).

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. 

Policymakers should require consumer protections for consumer and small-business loans that are underwritten using financial account data, including the following: