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ON THE WEB KNOW WEBSITES TO SURVEY SHOWS STRONG SUPPORT FOR FINANCIAL REGULATION CONSUMERFINANCE.GOV/ REGULATORY-IMPLEMENTATION The Consumer Financial Protection Bureau has a regulatory implementation website— ConsumerFinance.Gov/RegulatoryImplementation—which consolidates all the new mortgage rules and related implementation materials in one place. The bureau has taken additional steps to help ensure a smooth transition. It's also published plain-language guides for each rule and interim examination procedures. SHARPENTODAY.ORG The National Foundation for Credit Counseling (NFCC) has created tools to help consumers make educated decisions about their personal finances. The program is available at SharpenToday.org and includes a self-assessment tool, a review by an NFCC-certified professional, and a workshop. Institutions including Bank of America, Chase, GE Capital, and Wells Fargo are founders of the Sharpen Alliance. SAVVYCARD.COM Savvycard.com generates mini-websites with built-in sharing functions so satisfied clients can easily and quickly pass your information on to others they know in the market for a new home via smartphone or other Web-enabled device. And, you're notified in real-time when someone shares your Savvycard for easy marketing tracking, because nothing beats direct referrals from trusted local sources. 8 September 15 marked the anniversary of the collapse of Lehman Brothers—a historical event which severed the very fabric of the nation's financial system. It's been five years since that fateful day, and the Center for Responsible Lending (CRL) says Americans—regardless of political party, age, race, or locale—overwhelmingly support financial regulation, and in particular, increased consumer protections. CRL and Americans for Financial Reform contracted a research group to poll 1,004 likely voters on their feelings toward Wall Street, reform measures already implemented, and reforms that have been proposed but not finalized. They found consumer support for tough financial reform and the Consumer Financial Protection Bureau (CFPB) remains strong. The issue of financial regulation has been an area of contention in Washington, and the survey found that the electorate overwhelmingly favors it, with 96 percent of Democrats, 95 percent of Independents, and 89 percent of Republicans saying they believe financial regulation is "important" or "very important." Overall, 83 percent of voters (including 89 percent of Democrats, 82 percent of Independents, and 75 percent of Republicans) said they favor tougher regulation of "Wall Street financial companies" when that statement was presented alongside the alternative of: "Their practices have changed enough that they don't need further regulation." Meanwhile, 64 percent of voters said they see a need for an agency charged to protect consumers from dangerous financial products. By contrast, 26 percent agreed with a counter-argument depicting the CFPB as an example of expensive and unnecessary federal bureaucracy. Notably, though, 40 percent of respondents said they have no opinion about or have not heard of the new consumer protection agency. Nevertheless, after hearing arguments both for and against financial reform, 63 percent of voters agreed that Wall Street should be held accountable and prevented from repeating past actions, and 67 percent held a favorable view of regulators' stepped-up oversight of mortgage brokers and other financial industry players. Support for financial regulation, however, coexists with a widespread view of debt problems as a reflection of "personal irresponsibility." When asked to choose, 30 percent of voters pointed to personal irresponsibility, while 44 percent prefer an alternative statement that "lenders need rules" and should have to provide clear information "so people can make wise choices." At the same time, 22 percent of voters say they support both propositions equally. VERBOSITY "It's [been] five years since the worst phase of the financial crisis began with the collapse of Lehman Brothers and the ensuing market panic. We are much safer now, and will be safer still going forward, but this is not the message that the public hears." —Martin Neil Baily and Douglas J. Elliott, Brookings Institution

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