WASHINGTON (AP) — President Barack Obama's weekend media message contains a warning to congressional Republicans -- leave the new financial regulations alone.
In his Internet and radio address today, Obama says the Consumer Financial Protection Bureau and other regulators recently cracked down on three credit card companies, ordering them to pay $400 million to people who were misled into making purchases they didn't want.
But he says Republicans, "backed by an army of financial industry lobbyists," have been "waging an all-out battle to delay, defund and dismantle these new rules."
For the GOP, Missouri congressional candidate Ann Wagner promoted Mitt Romney for president, called for changing the U.S. tax code, which she called a "72,000-page monstrosity," and urged the repeal of Obama's health care law.
She says Obama has overseen "more spending, more red tape, more debt and decline."