While the economy is beginning to show signs of recovery, it won't have fully recovered until greater consumer protections are put in place, President Obama said in the weekly radio address.

Obama called for the Senate to pass a bill to strengthen consumer protections on credit cards.

"Because American institutions must act with the same sense of responsibility and fairness that the American people aspire to in their own lives," the president said. "Nowhere is this more apparent than in our credit card industry."

Watch a video of the address below: