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?
Capitalism and market forces are very powerful in producing wealth and innovation. But we need to ensure that these forces act in the common interest.
Long experience, in the United States and in other advanced economies, has demonstrated that monetary policy is most successful when decisions are rendered independent of influence by elected officials.
We have always known that heedless self-interest was bad morals; we know now that it is bad economics. Out of the collapse of a prosperity whose builders boasted their practicality has come the conviction that in the long run economic morality pays.
After the 1929 crash, the Federal Reserve mistakenly focused its policies on preserving the gold value of the dollar rather than on stabilizing the domestic economy.
The interests of the IMF represent the big international interests that today seem to be established and concentrated in Wall Street.
The first requisite of a sound monetary system is that it put the least possible power over the quantity or quality of money in the hands of the politicians.
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