We also face the challenge of identifying when restrictions and prohibitions are appropriate to ensure meaningful consumer protection and do not involve unintended consequences that could ultimately reduce consumer welfare. With the increased complexity of mortgage loans and credit cards in recent years, for example, there has been great concern about the need for more-effective disclosure and increased consumer protection in these transactions.
As has, obviously, the catalogue of failures that led to the financial crisis, the effects of which are still very much with us today.