Moms ask the White House serious questions about family financial protection reform, and the White House answers
Last week, President Obama spoke about the Consumer Financial Protection Agency and the regulation reforms that are being put into place. We've all heard and /or lived the horror stories - insane credit card rates, not-so-ethical mortgage brokers, out-of-hand over draft fees and worse.
As moms, we want to know - what is being done to protect families financially?
On Monday, The White House invited members of TheMotherhood.com to share our thoughts and questions on consumer and family financial protection reform.
Yesterday Dr. Christina Romer, a mom of three and Chair of the White House Council of Economic Advisers answered many of our questions by video -- and I think you'll agree, they are awesome - clear, to the point and very informative. We're especially glad to have had this opportunity to talk with Dr. Romer because finances, budgets, mortgages, paying for college, the financial meltdown and more are what is at the top of of all of our minds and causing us a great deal of worry.
Here is a link to Dr. Romer's video taped answer to a question on credit cards and mortgages:
In the video segments (you can watch the rest here) Dr. Romer covers a variety of consumer financial protection issues in addition to credit cards and mortgages: the role of the Consumer Financial Protection Agency, college loans, small businesses and what we can expect next. And, yes, Dr. Romer is directly addressing real moms' questions.
You can read the White House's blog post about our conversation with Dr. Romer here.
You all know firsthand that moms' voices are so important and we are thrilled and honored that the White House listened to and answered the looming questions we have on how to protect our family finances.