Doesn’t take a crystal ball
February 2, 2010 | federal legislation, industry, personal finance | Comments (0)I think this columnist’s predictions about financial trends this year are spot on if a little conventional:
While no one has a crystal ball to know exactly what is coming in the future, there are some trends we confidently anticipate will impact the financial industry in 2010.
For example, we anticipate continued regulatory activity to impact the way that the financial industry does business. In 2009, legislators and federal regulatory agencies began to focus on consumer protection initiatives, and we expect that attention to continue. Those efforts in 2009 resulted in revisions to existing regulations and creation of new legislation, the impact of which is still rolling out. And, of course, there is the potential for additional new legislation to be introduced this year. These regulatory actions aim to protect consumers from abusive credit card, overdraft and other practices characteristic of some financial institutions.
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