2. A consumer protection bureau will be created
A new Consumer Financial Protection Bureau will oversee financial products and services such as mortgages, credit cards, and private student loans. The idea is to bring consumer regulation under one roof, rather than spreading it out among seven different agencies. The agency could propose new rules to protect consumers, however these regulations could be blocked by the 10-member oversight council if they are deemed to threaten the financial system.
Related: Protecting US consumers