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Business

New rules ahead for credit industry?

WASHINGTON - The Obama administration official leading the effort to set up a consumer financial protection agency says credit markets need fundamental change to better protect consumers.

Elizabeth Warren says it is too easy for financial companies to hide critical information from customers, making it impossible for them to make informed decisions about products such as credit cards and mortgages.

She said in a speech to the Consumer Federation of America that the new government agency will work to make it easier for consumers to obtain the information they need to make informed decisions.

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