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Regulators should ensure robust consumer protections in the financial marketplace. They should provide effective oversight of the financial industry.
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.
Policymakers should ensure that judicial proceedings are fair. They should not enact statutory damage limitations.
Federal laws related to private enforcement of legal rights should provide a baseline for protecting individual rights.
Policymakers and the private sector should ensure that consumers and employees have the right to seek redress through the courts for injury or losses.
Options for alternative dispute resolution (ADR) should be available. These include mediation and arbitration.
Policymakers should expand access to free or reduced-cost legal services for older adults with low and moderate incomes.