Planet Money, This American Life and ProPublica have teamed up to bring us a story about Wall Street insiders who made millions betting against the American dream. Watch the catchy Broadway tune about the story below, and visit http://thisamericanlife.org for more info. ‘Bet Against The
Elizabeth Warren wrote this piece in Politico. Here is an excerpt: Banks or families? For almost a year, the big banks and the American Bankers Association have presented that choice to Congress. Lobbyists argue that meaningful consumer protection will jeopardize the safety and soundness of
Consumer rights activists staged a protest inside the Bank of America building in St. Louis on March 24th. The protesters, organized as part of the People’s Settlement, called for a freeze on foreclosures and specifically sought a conversation with Jack Shackett, Bank of America’s Credit
In 2005, Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA). Consumer advocates strongly opposed this bill, warning that it was designed only to profit credit card companies while harming consumers. A study ordered by Congress when the passed the bill has proven
The New York Times understands that Elizabeth Warren has not only the qualifications but also the passion to ensure that the CFPB does what it was created to do–what Elizabeth Warren wanted it to do when she came up with the idea for such an
George Soros has made billions of dollars predicting the ups and downs of global financial markets. In this discussion with NPR’s Steve Inskeep he strongly endorses the creation of a Consumer Financial Protection Agency (CFPA). Listen here.
This article from Zach Carter with SNL Financial outlines the problems with the current regulation, and lack thereof, of Refund Anticipation Loans. Click here for the article (pdf).
The Associated Press has this report about Chairman Sheila Bair’s support for a new Consumer Financial Protection Agency. Here is an excerpt: WASHINGTON — The head of the Federal Deposit Insurance Corp. pitched again Monday for a new agency for consumer financial protection, now a
James Crotty, Gerald Epstein, and Iren Levina have co-authored an article regarding financial reform, the “Volcker Rule,” and the real cost of propriety trading. Here is the introduction to the article: President Obama’s endorsement of the “Volcker Rule” — a set of proposals designed to
Rhode Island’s Providence Journal just released this Editorial supporting “the Volker Rule.” It says: Wall Street should not again earn fortunes through reckless investing while loading the risks onto taxpayers. It’s time for new rules for this game, and no financial figure is better suited