Russia Scraps Missile Deployment after Obama Cancels Missile Shield བོད་སྐད།

U.S. President Barack Obama says the world's major economies have taken important steps to address the global financial crisis, but he says more work needs to be done.

In his weekly radio and Internet address, President Obama said world leaders meeting at the Group of 20 summit last April displayed unprecedented international cooperation, and took steps to address the global financial crisis and help the world's economies.

Mr. Obama says the G20 summit next week in Pittsburgh will be a five-month check-up to review steps taken by each nation to break the global economic crisis.

The president says the U.S. and other nations must close gaps in regulation that led to the financial crisis.

He says central to that effort in the U.S. will be the creation of a Consumer Financial Protection Agency to, among other things, prevent lenders from misleading consumers.

The president says lobbyists for big Wall Street banks are working hard to stop reforms that would hold them accountable.

Some information for this report was provided by AP.