Posts Tagged ‘CFPA’

• Buyer beware, if the Senate exempts auto dealers from any new consumer protection rules
• POSTED 05.17.10

Auto dealers are swarming Capitol Hill, asking their Senators to exempt them from scrutiny by the proposed Consumer Financial Protection Agency. They’ve already won an exemption from the House of Representatives. If the Senate gives them a free pass, too, it will hurt consumers, turn a blind eye to predatory practices, and violate the principle [...]

• The Republican bill strangles the consumer financial protection agency
• POSTED 05.15.10

Now we know exactly what Republicans have in mind for consumer protection: No new protection, period. The proposal they introduced in the Senate yesterday amounts to a wipeout. Nothing would happen at all to stop future predatory loans.
The Administration want an independent Consumer Financial Protection Agency with its own budget and authority to act. The [...]