Weekly Addresses: Credit Protection, Obama Care [VIDEO]
President Barack Obama is commending the work of a consumer protection agency created after the economic crisis.
The Consumer Financial Protection Bureau got its first permanent director this week after the Senate voted to install Richard Cordray after years of delay.
In his weekly radio and Internet address, Obama says consumers can go to the agency to “get some measure of justice” when financial institutions disregard the rules.
He says the bureau has addressed more than 175,000 complaints and has helped recover more than $400 million in refunds for consumers.
In the Republican message, congressmen Todd Young of Indiana and Tim Griffin of Arkansas are calling on the Democratic-controlled Senate to vote on bills passed by the House to delay requirements on both individuals and businesses by Obama’s health care law.
The President earlier delayed the implementation of the employer mandate until 2015 but the individual mandate is still on track to take effect as scheduled in 2014. The House bills would delay both mandates.
“It’s left many hardworking taxpayers asking, ‘what about me? what about my family?’ After all, the law’s mandates are just as daunting for individuals,” Young said. “And they don’t have an army of lawyers, lobbyists and accountants at their disposal to make sense of it all.”
The Democrat-controlled Senate is not likely to approve the bills.
Added Griffin, “Let’s be fair about this: if the president’s going to help out businesses by exempting them from the law, he ought to give the same relief to folks like you.”
The Associated Press contributed to this report