Comments on: Why Elizabeth Warren Should Head the New Consumer Protection Bureau

By: Jane

Jane — Wed, 11 Aug 2010 19:17:37 +0000

One way to get simple disclosure is to simplify the product. I’m all for simplifying banking products. Another way to get simple disclosure is not to kid people about what things cost. The new mortgage disclosure from HUD was in response to deceptive tactics by mortgage brokers and bank loan officers, that led people into paying higher mortgage rates than necessary.

By: Chris Chilton

Chris Chilton — Wed, 04 Aug 2010 23:17:57 +0000

It’s time for the Obama administration and the Democrats in Congress to grow some backbone. Elizabeth Warren is the best person for the job and everybody knows it.

By: Nessa

Nessa — Tue, 03 Aug 2010 20:55:22 +0000

The banking industry has consistently advocated simpler disclosures. As far back as May 21, 1986, ABA testified in favor of improved credit card application disclosures, but emphasized the need for Congress to keep the disclosure, “meaningful, understandable, and useful. . . The simpler the disclosures, the more likely it will be useful to the consumer.” Numerous other letters to the Federal Reserve Board strongly encouraged consumer testing in creating brief, easy-to-understand credit card disclosures. In testimony on September, 15, 1993, in an effort to reduce the paperwork burden, ABA unsuccessfully advocated for simplifying mortgage documents. Indeed, it is interesting that the current administration recently increased the required 3-page mortgage summary disclosures to 4 pages.

By: Dan Smith

Dan Smith — Sun, 25 Jul 2010 17:47:18 +0000

The laissez-faire, caveat emptor, free-market ideologues have had it all their way for the last few decades. Thing have swung way off balance. We need to get back to some reasonable equilibrium, with meaningful regulation–the right amount–not too much, but not too little, either.

By: Bruce Chaffee

Bruce Chaffee — Sun, 25 Jul 2010 16:36:49 +0000

This is a good and logical step towards recovery and an economy where citizens can have a modicum of trust in the system.

By: S. Brown

S. Brown — Wed, 21 Jul 2010 13:44:02 +0000

I have listened to Ms. Warren many times on TV and she is the ONLY one so far that can, in my opinion, explain the complicated mess that we are in. I truly hope she will be nominated and confirmed. I challenge Mr. Obama to have the courage to put her in charge.

By: Ray in MD

Ray in MD — Wed, 21 Jul 2010 11:52:53 +0000

Thank you, Mrs. Quinn for all of your articles but especially this one.

Supporters of Ms. Warren can sign a petition at:
http://act.boldprogressives.org/cms/sign/petition_warren/?source=bpo