Martin O'Malley: Put Consumers' Interests First

[FSogol]

Require Loan Brokers to Act in Consumers’ Best Interests
The Consumer Financial Protection Bureau has made great strides in improving financial
products for consumers, but there is still far to go. A next step should be creating a
fiduciary standard for mortgage brokers and others who hold themselves out as acting in
the best interests of consumers.

Governor O’Malley will:
• Create a Fiduciary Standard for Loan Brokers. O’Malley will adopt new rules to
require mortgage brokers, as well as auto loan and student loan brokers, to put the
best interests of consumers first, while providing full and fair disclosure of all
conflicts of interest. This will build from the successful efforts of states such as
California and Washington

More mining from the 10 page Wall Street Reform position paper O'Malley released today. The above is one tiny portion.
*read Martin O'Malley's 10-page plan*: http://martinomalley.com/wp-content/uploads/2015/07/OMalley-Wall-Street-Reform.pdf

[Sheepshank]

1. KnR for some necessary exposure

[Andy823]

2. Couldn't agree more

For far to long the consumer has been taken for granted while loaning institutions have had the power to do just about what they want. It's time for change.