Bank Lending Watchdog Proposal
Its only a proposal, so it is subject to the fierce divisive powers in the senate to shoot it down, marginalize it, water it down, or actually do something of value. As the bill takes aim at banks, I'm thinking it gets watered down and rewritten with money stack sized loopholes. I hope I'm wrong but lately my cynicism is getting the best of me. I need a vacation.
McClatchy: Proposed federal watchdog for consumer finance advances
...a controversial plan to create a federal agency to regulate mortgages, credit cards and other forms of consumer credit cleared a key House of Representatives committee...
"The sad fact is, the lower your income is in America, the more you are paying for financial transactions..."