The challenge to policymakers is to strike the right balance – that is, to find ways to empower and protect consumers without diminishing access to credit and hindering future innovation.
With these principles in mind, I will briefly describe some of the key steps that the Federal Reserve is undertaking to strike this balance in the area of consumer regulation to protect consumers and provide them with the information they need, and when they need it, to make sound decisions. Credit and the economy Credit is the lifeblood of the American economy.