Warren to bankers: Regulation is good for you

[ProSense]

Warren to bankers: Regulation is good for you

By DANIEL WAGNER, AP Business Writer

WASHINGTON – Obama consumer finance adviser Elizabeth Warren took a conciliatory tone with bank executives Wednesday, asking them to work with her on new disclosures that will make credit cards fairer and easier to understand.

In her first major speech since being tapped to help set up a new consumer finance regulator, Warren argued that the agency can help banks by clarifying what regulators expect of them. She said better oversight can help consumers make good choices, and push companies to compete on price and quality rather than using hidden fees.

"Good regulations can create an opportunity for good businesses to thrive," Warren told about 400 bankers gathered in Washington for a dinner organized by the Financial Services Roundtable. In prepared remarks, she said the new regulator's purpose is to create "a level playing field where the best products at the best prices win."

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"We have a remarkable chance to put aside misconceptions and preconceptions — whether they are yours or mine," Warren told the group. Later, she said, "I'm here to ask you to work with me."

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[Arctic Dave]

1. As she tapped the head of her bat into her palm.

You can work with me, or you can get worked by my friend.

[DJ13]

2. "a level playing field where the best products at the best prices win."

They dont want to hear that.

The best prices means lower profits as far as banks are concerned.

[pa28]

3. More important is the unsaid thing.

Work with me or work against me. I'm not sure I'd want to work against Elizabeth Warren.

[MannyGoldstein]

4. I have a bad feeling about this

She may not know how to deal with bullies.

[w4rma]

5. She's striking the perfect tone, currently. (nt)

[ProSense]

6. Uh oh.

Do you mean some people badgered the President, who they obviously believe is incapable of making informed decisions and lacks their superior judgment and intellect, to appoint the person they declared was the best and only person for the job and they were wrong?

[jeanpalmer]

7. When is she going to tell them

they have to cut their rates, and have to quit gouging people?