7 And consumer protection involves using supervision and regulation to fully  See Michael S. Barr, No Slack: The Financial Lives of Low-Income Americans (Washington: Brookings Press, 2012). 7 Deposit products also play a critical role in providing an entry point to the banking system for low- and moderate-income individuals, including those who are considered unbanked.
Having a bank account provides the means to receive, transact, and safely save funds. It is also a pathway for a bank customer to 6  -8implement laws to promote fair lending, consumer protection, and transparency in the consumer financial services marketplace. Let me say a bit about where innovation fits into this goal of making the financial system fairer.