Obama pledges more consumer protection - KWWL - Eastern Iowa Breaking News, Weather, Closings

Obama pledges more consumer protection

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WASHINGTON, D.C. (AP)-- The Obama administration is promising to move quickly to simplify the paperwork consumers receive when taking out a home mortgage.

Obama adviser Elizabeth Warren and Treasury Secretary Timothy Geithner said that the administration was committed to implementing, as soon as possible, several consumer protections that are part of the sweeping overhaul of the financial system that Congress passed in the summer.

Geithner and Warren were holding a forum to receive input on ways to simply mortgage disclosure forms. The goal is to make sure that consumers get understandable information so that they can make the best choices when picking a mortgage.

 

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