President Obama announced a plan to reform the regulation of the financial services industry. The goal is to prevent a repeat of the economic turmoil we have experienced during the last year.
Among the plan’s numerous components is the creation of a Consumer Financial Protection Agency. Observers already are raising questions about what kind of authority this agency would have. Such a regulator can only mean fewer financial products and services for consumers, and more compliance costs for banks. Those costs will get passed onto consumers . . .
This content is only accessible to members with a current subscription. If you are a subscriber but don't have online access, please contact us at 952-835-2275.