One industry supporter of the CFPA
December 3, 2009 | federal legislation, industry | Comments (0)From an op-ed in The Hill newspaper today by ING Chairman Arkadi Kuhlmann:
The CFPA would be charged with creating and enforcing uniform consumer protections on all financial products, including credit cards, mortgages, payday loans, and deposit and checking accounts. Essentially, it would establish clear rules of the road to prevent responsible consumers from being captured in a web of unfair practices.
Just as the Food and Drug Administration enforces labeling laws and issues safety standards, the CFPA would enforce disclosure standards and certify that loans and charge cards are generally safe to use.
With all due respect Mr. Kuhlmann, do you think federal bureacrats are qualified to decide what financial services are “safe to use”?
Comments»
No comments yet.