For the CFPA
October 15, 2009 | federal legislation, industry | Comments (0)The Boston Globe:
The new agency would safeguard investors and the larger economic system as well. Under new rules whose enforcement the agency would supervise, consumers eligible for conventional mortgages would not be steered instead into deceptively packaged subprime mortgages. Banks would be prevented from suddenly jacking up credit card fees and hiding rate increases in pages of fine print. And financial institutions would be pushed to describe their products as clearly, comprehensibly, and concisely as possible.
So everyone should be as transparent as the payday lending industry.
Comments»
No comments yet.