Is Agency Needed to Regulate Home Loan, Credit Lingo?
July 1, 2009 by admin
It’s hard to oppose the idea of providing easy-to-understand mortgages and credit cards to American consumers. But do we need a new federal agency to do the job?
Consumer advocates say we do, because existing regulators failed to stop the spread of subprime mortgages and other products that were all about generating fees, not meeting consumers’ needs.
Opponents, including the American Bankers Association, say the proposed Consumer Financial Products Agency will generate a new layer of bureaucracy. They also worry that banks will be caught in a regulatory tug-of-war. Read more about mortgage marketing…
Comments
Feel free to leave a comment...
and oh, if you want a pic to show with your comment, go get a gravatar!
You must be logged in to post a comment.