Paul Solman from PBS “NewsHour” recently interviewed former bank regulator Bill Black about his opinion regarding the effects of deregulation of financial products. Bill Black talks about the way that bad practices have been ignored by bank regulators and notes that, “In the savings and loan crisis, where the national commission finds that the typical
On Monday, February 22, the long-awaited and long-needed changes laid down by the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act went into effect. When the bill was passed last May, it was the first time meaningful credit card legislation had ever been passed on the federal level. Previously, some weak disclosure rules were put
A recent editorial in the New York Times talked about the need for sweeping financial reform in order to effectively deal with the nation’s economic problems, and the hurdles that reform legislation must face as it moves through the Senate. It said: Nearly a year ago, as the Obama administration issued a first draft of
Congressman Dan Meffei (D-NY) recently spoke up on behalf of the Consumer Financial Protection Agency and increased consumer protections in a radio interview with the Rochester-based station WXXI. The report from the interview says: Maffei was in Rochester earlier this week, to promote new rules for credit card companies, which go into effect on February
A group of concerned Southwestern Missouri residents were fed up with a lack of representation from their Congressman, Roy Blunt. They decided to try the bank trick that has been getting industry leaders into the Congressman’s office and earning his vote: they brought him a check. Kay Mills, who organized the event, said “On Wednesday,
“Don’t throw stones from a glass house – especially at an independent watchdog like Elizabeth Warren.” That’s the latest from AFR’s Director, Heather Booth, who has a new post over at the New Deal 2.0 blog. Click here to read the full post. She says: Over at the U.S. Chamber of Commerce’s website, Ryan McKee