The President highlighted consumer issues several times in his speech tonight. Here's some of the relevant text:
- On Dodd-Frank and the CFPB: "We believed that sensible regulations could prevent another crisis, shield families from ruin, and encourage fair competition. Today, we have new tools to stop taxpayer-funded bailouts and a new consumer watchdog to protect us from predatory lending and abusive credit card practices."
- On vetoing GOP efforts to roll back Dodd-Frank: "We can’t put the security of families at risk by taking away their health insurance, or unraveling the new rules on Wall Street, or refighting past battles on immigration when we’ve got a system to fix. And if a bill comes to my desk that tries to do any of these things, it will earn my veto."
- On reducing crippling student-loan debt and making community college free: "Forty percent of our college students choose community college. … Whoever you are, this plan is your chance to graduate ready for the new economy, without a load of debt. … I want to spread that idea all across America, so that two years of college becomes as free and universal in America as high school is today. And I want to work with this Congress, to make sure Americans already burdened with student loans can reduce their monthly payments, so that student debt doesn’t derail anyone’s dreams."
On middle class economics: "[A]t every moment of economic change throughout our history, this country has taken bold action to adapt to new circumstances, and to make sure everyone gets a fair shot. We set up worker protections, Social Security, Medicare, and Medicaid to protect ourselves from the harshest adversity. We gave our citizens schools and colleges, infrastructure and the internet — tools they needed to go as far as their effort will take them. That’s what middle-class economics is — the idea that this country does best when everyone gets their fair shot, everyone does their fair share, and everyone plays by the same set of rules."