CFPA gets the predictable support
October 13, 2009 | federal legislation, industry | Comments (2)Big government Lefty columnist Errol Louis supports the CFPA for the usual wrong reasons, except for this one:
Instead of leaving consumers to guess – or learn the hard way – about what fees they might be charged, the proposed agency would ban jargon and double-talk.
Yes, if the CFPA is about transparency, we’re all for it.
Comments»
Isn’t “jargon” in the eye of the beholder? Perhaps they’ll overturn truth in lending regulations with the nonsensical APR calculations.
… and how does Mr. Louis know what they’ll do? The agency doesn’t even exist!
The CFPA would have authority to determine which products consumers can choose from. In short, the bill would create a regulatory overlay of the entire business community, extending far beyond traditional financial services. We need to take control of consumer choice. How does CFPA affect you? http://www.friendsoftheuschamber.com/issues/index.cfm?ID=469