The Obama administration's guidelines for credit cards, mortgages, car loans and other financial products are part of an effort to force banks to offer simpler products. "That was a market that used to be pretty strongly anchored on plain-vanilla products," said Michael Barr, assistant secretary for financial institutions at the Treasury. A mandate of such simple products would hinder the profitability of banks, said Joseph Longino, a principal at Sandler O'Neill + Partners.

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