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Saturday 27 October 2012

Obama warns GOP not to undo Wall Street law

WASHINGTON (AP) ? President Barack Obama is warning congressional Republicans not to undo financial rules he signed two years ago and he's taking specific note of the work of a consumer agency created by the new law. In his Internet and radio address Saturday, Obama drew attention to the Consumer Financial Protection Bureau, noting that it and other regulators recently cracked down on three credit card companies, ordering them to pay $400 million to people who were misled into making purchases they didn't want. In the Republican address, Missouri congressional candidate Ann Wagner promoted Mitt Romney for president, called for changing the U.S. tax code, which she called a "72,000-page monstrosity," and urged the repeal of Obama's health care law.

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