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Mon Feb 11, 2013, 09:39 AM

nytimes: (Republicans) Quietly Killing a Consumer Watchdog

If you’d like to know why Republicans are trying to shut down the Consumer Financial Protection Bureau, take a look at three things the agency has already accomplished in its first 18 months:

It called a halt to predatory practices by mortgage lenders, ensuring that borrowers are not saddled with loans they can’t afford and preventing brokers from earning higher commissions for higher interest rates.

It won an $85 million settlement from American Express, which it accused of deceptive and discriminatory marketing and billing practices.

It opened an investigation into questionable marketing practices by banks and credit card companies on college campuses, which often take place after undisclosed financial arrangements are made with universities.


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Reply nytimes: (Republicans) Quietly Killing a Consumer Watchdog (Original post)
spanone Feb 2013 OP
1-Old-Man Feb 2013 #1
Bluenorthwest Feb 2013 #2

Response to spanone (Original post)

Mon Feb 11, 2013, 09:50 AM

1. This Bureau is as good an idea as the EPA was, and equally hated by the GOP

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Response to 1-Old-Man (Reply #1)

Mon Feb 11, 2013, 10:21 AM

2. Interesting to note that EPA was created by Richard Nixon by Executive Order...


Says much about the current batch of Republicans that they hate it.

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