Unfair servicing practices can worsen a family's already difficult economic situation, and the injury echoes from the family to the community and ultimately throughout the economy.
Interpretation
Unfair service practices can negatively impact families and communities economically.
Elizabeth Warren highlights how unjust servicing, particularly in financial contexts, can exacerbate the financial struggles of families. This ripple effect of economic harm not only affects individual households but also extends to the wider community and can influence the overall economy, demonstrating the interconnectedness of economic practices and societal well-being.
In practice
This quote could be used in a speech advocating for consumer protection laws.
Families rely on financial services more than ever, but those who need them most - who struggle to make ends meet - too often must contend with sky-high interest rates and tricks and traps buried in the fine print of their loan products.
There's been such a sense that there's one set of rules for trillion-dollar financial institutions and a different set for all the rest of us. It's so pervasive that it's not even hidden.
Mitt Romney is the guy who said corporations are people. No, Governor Romney, corporations are not people.
I talk to nurses and programmers, salespeople and firefighters - people who bust their tails every day. Not one of them - not one - stashes their money in the Cayman Islands to avoid paying their fair share of taxes.
'Middle class' used to be synonymous with secure, with steady, with boring, because middle-class people were people who were pretty much safe from the time they first started work on through retirement and until their deaths. No longer.
Does anyone believe that Goldman Sachs is gonna give up a deal that would yield millions of dollars because someone fussed at them behind closed doors?
It is a paradoxical truth that tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now Cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus.
No bank should be too big or too complex to fail, but almost any bank is too big to liquidate quickly, particularly in the midst of a crisis.
The budget should be balanced not by more taxes, but by reduction of follies.
What we know about the global financial crisis is that we don't know very much.
In order to deal with all the medical cost demands and other challenges in the U.S., as we look to raise that revenue, the rich will have to pay slightly more. That's quite clear.
You know, I think of the global economy as an inverted triangle, resting on the shoulders of the American consumer. And if the American consumer cannot have enough disposable income in order to maintain a standard of living that creates more opportunities generation after generation, that's bad for everybody.
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