Rep. Porter asks CFPB Director about her agency's educational program

In her second hearing before the House Financial Services Committee this year, Consumer Financial Protection Bureau Director Kathy Kraninger tried to out a new program aimed at educating consumers to detect abuse on their own.

So Congresswoman Katie Porter asked her to do some math on a disclosure for a financial product.

Just like consumers aren't expected to decide for themselves whether their water is safe to drink, they shouldn't be expected to distinguish among financial products, when some are potentially toxic.

How can we expect disclosures to be enough for consumers, when the CFPB Director can't do the math on one of these disclsoures herself?

Видео Rep. Porter asks CFPB Director about her agency's educational program канала Rep. Katie Porter