Financial reform misses
June 21, 2010 | federal legislation, industry | Comments (0)From the Hattiesburg American:
Another example is the proposed new consumer financial regulator. The authority granted to this new federal bureau is so broad and ill-defined that it essentially puts government in the business of deciding what services are right for bank customers. A bank could reasonably conclude that it is not worth offering some banking services that are specifically designed for its customers because the services don’t have the bureau’s stamp of approval.
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