Comments on: Consumer financial protection: Alive or dead? http://janebryantquinn.com/2010/03/consumer-financial-protection-alive-or-dead/ Your personal finance advocate—putting consumers first! Sat, 28 May 2011 14:35:38 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Jane http://janebryantquinn.com/2010/03/consumer-financial-protection-alive-or-dead/comment-page-1/#comment-285 Jane Wed, 24 Mar 2010 02:10:54 +0000 http://janebryantquinn.com/?p=918#comment-285 It by type of account, such as single account, joint account, retirement account, trust account. Details here http://www.fdic.gov/deposit/deposits/insured/faq.html It by type of account, such as single account, joint account, retirement account, trust account. Details here http://www.fdic.gov/deposit/deposits/insured/faq.html

]]> By: Perkins http://janebryantquinn.com/2010/03/consumer-financial-protection-alive-or-dead/comment-page-1/#comment-279 Perkins Tue, 23 Mar 2010 12:40:55 +0000 http://janebryantquinn.com/?p=918#comment-279 Speaking of banks, I'm confused about FDIC protection. I know the new limit is $250,000. But I would rather focus on the old limit for the sake of simplicity. Let's say, hypothetically speaking, that the limit is still $100,000. I am confused about that. Is the deposit insurance for $100,000 per account? OR is it for $100,000 per depositor? If a person has $200,000 in cash, would that mean they would have to have 2 separate accounts within one bank? Or would they have to put $100,000 in one bank and $100,000 in another bank? Thanks, Perkins Speaking of banks, I’m confused about FDIC protection.

I know the new limit is $250,000.

But I would rather focus on the old limit for the sake of simplicity. Let’s say, hypothetically speaking, that the limit is still $100,000.

I am confused about that. Is the deposit insurance for $100,000 per account? OR is it for $100,000 per depositor?

If a person has $200,000 in cash, would that mean they would have to have 2 separate accounts within one bank?

Or would they have to put $100,000 in one bank and $100,000 in another bank?

Thanks,
Perkins

]]> By: Jane http://janebryantquinn.com/2010/03/consumer-financial-protection-alive-or-dead/comment-page-1/#comment-240 Jane Tue, 02 Mar 2010 16:15:09 +0000 http://janebryantquinn.com/?p=918#comment-240 The CFPA could be funded by fees, paid by the industries they regulate. That's the way the FDIC is funded. The SEC, by contrast, is funded by Congressional appropriation. On big issues the industry opposes (like requiring changes in accounting and transparency in accounting, post-Enron), the SEC comes under tremendous pressure from the industry's favored Congressmen. Congress threatens to cut the budget, or prevent funds from being spent for specific SEC purposes--often hamstringing reform. For a consumer protection agency, independence is of key importance. Otherwise, it will be run over. The CFPA could be funded by fees, paid by the industries they regulate. That’s the way the FDIC is funded.
The SEC, by contrast, is funded by Congressional appropriation. On big issues the industry opposes (like requiring changes in accounting and transparency in accounting, post-Enron), the SEC comes under tremendous pressure from the industry’s favored Congressmen. Congress threatens to cut the budget, or prevent funds from being spent for specific SEC purposes–often hamstringing reform. For a consumer protection agency, independence is of key importance. Otherwise, it will be run over.

]]> By: LV http://janebryantquinn.com/2010/03/consumer-financial-protection-alive-or-dead/comment-page-1/#comment-238 LV Tue, 02 Mar 2010 07:21:36 +0000 http://janebryantquinn.com/?p=918#comment-238 Where is the proposed independent agency supposed to get it's funding from, if not Congress? Where is the proposed independent agency supposed to get it’s funding from, if not Congress?

]]>