Big Government’s take
March 9, 2010 | federal legislation, industry | Comments (0)Biggovernment.com has this to say about the CFSA and why it has some support from a few large banks:
That entity won’t be regulating Wall Street. it will be regulating Main Street. Stores with layaway plans. Check cashing companies. Payday lenders. Debt settlement companies. Car Dealers and pawn shops (if their lobbyist written exemption falls out) will all be regulated by the federal government.
And that’s just for starters. How many government agencies do you know of that get less powerful as they go along? And how many can you think of that continue to grab more and more power over more and more parts of our lives?
That’s a really good point. What will the CFPA look like in ten years, let alone now?
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