The new consumer agency was about leveling the playing field, about making sure that families didn’t get cheated in the fine print on mortgages and credit cards and checking accounts and all other kinds of financial dealings.
The financial industry had fought us every inch of the way, spending more than a million dollars a day for over a year. Many times, they declared the agency dead. We didn’t have that kind of money to spend on lobbyists and PR firms – heck, we had hardly any money in comparison – but we didn’t give up. We built an organization from the ground up, and we pulled in allies and grassroots activists from all over the country. It was David-versus-Goliath all the way, and in the fight for the consumer agency, David pulled it off.
And the fight was worth it. The agency went operational four…
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