This consumer watchdog should be a normal agency | Bloomberg News

Most Americans lack the necessary tools to comprehend the complex variety of financial products available today. Many individuals struggle specifically with credit reports, novel payment apps, and payday lenders. Consequently, an increasing proportion of the population is falling behind on their debt obligations. This situation occurs while a record $16 trillion in debt persists, emphasizing the critical need for a functional consumer watchdog agency to protect citizens from these dizzying and overwhelming financial challenges.