Americans aren't borrowing too much; rather, they are investingin a better life. And almost everything Sen. Elizabeth Warren hastold you about consumer credit is wrong.

Those are some of the takeaways from a new bookcalled ConsumerCredit and the American Economy, according to one of itsauthors, Todd Zywicki, a law professor at George MasonUniversity.

Zywicki is a longtime vocal critic of the CFPB – the governmentagency that was the brainchild of Warren prior to her becomingsenator and was mandated by the Dodd-Frank Act – which seeks toprotect consumers from abusive financial products andpractices.

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