Fed report: Banks and lenders can solicit business

The Federal Reserve said in a report published on Wednesday 8 December that consumers would suffer and pay higher prices if Congress curtailed the ability of banks and lenders to send them solicitations.

"Further restrictions on the ability of lenders and insurers to provide written offers of credit or insurance to consumers would on balance result in a less competitive marketplace and thus relatively higher prices and reduced availability," the Fed said in a 52-page report to Congress release

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