What angers me most about Wall Street’s shady dealing and greed is that that they like to blame the national meltdown on their customers. You’ve heard their sniffy defense: People took mortgages they couldn’t afford, lied to lenders about their incomes and deserve whatever they got. The poor li’l ole mortgage [...]
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 [...]
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 [...]
We need a pro-consumer tea-party march on Washington–an angry march that tells the Senate we won’t take it anymore. Consumers are justly furious with banks that misled them about the costs and risks of their mortgages and credit cards, and skewered them with fees. President Obama wants to create a Consumer Financial Protection Agency, to [...]
There’s a point where a weak Consumer Financial Protection Agency would be worse than no agency at all. So far, the watered-down Senate bill remains on the right side of the line. But there might come a point where we all have to stand up and shout “no.”
For consumers, nothing—nothing—is more important than having an [...]
