It seems that even President Obama could not avoid the ads that claimed the local butcher and baker would be harmed by the creation of a Consumer Financial Protection Agency.

On Friday, the president met with consumers, regulators and lawmakers to push for support of the agency, and he made a special point of rebutting the ads, which claimed that anyone who offered credit to a customer would be regulated by the new agency.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.