The Future of the Consumer Financial Protection Bureau
http://thedianerehmshow.org/shows/2011-05-05/future-consumer-financial-protection-bureau
The Consumer Financial Protection Bureau has been under assault almost from the moment it was put on the drawing board. The battle lines are familiar. Democrats versus Republicans. Yesterday a GOP-led House subcommittee approved three bills that would change the agency's structure. Republican critics said the measures would improve the CFPB, partly by making it more transparent. CFPB supporters blasted the bills as an attempt to cripple the bureau, which the banking industry has lobbied hard against. The continuing fight over the new watchdog of banks, credit card companies, the mortgage industry and other consumer lenders.
Guests
Travis Plunkett
legislative director, the Consumer Federation of America.
Maya Jackson Randall
financial reporter, Dow Jones Newswires, Wall Street Journal bureau.
Mark Calabria
director of financial regulation studies, Cato Institute.
Comments
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Mchaun
The payers always pay for the defaulters just common sense Sir! When you buy something in a retail store you pay for the merchandise that has been stolen by people who prefer not to pay with higher price tags or higher interest rates on their in store credit cards. Same goes for any financial institution. For the most part people not paying their obligations is a choice of priorities. Signing a contract to get the feel good today without concern for tomorrow is the fault of the consumer not the lender.
I am trying to understand your point, but I come back to the obvious. If your on the edge all the time as many are you have no business juggling credit accounts of any kind. Personal experience has taught me cutting slack for people in this position only worsens their situation.
One caller made a comment about Mr. Calabria's use of the word
"irregardless." Mr. Calabria's response was so telling. He defensively responded that he would make up his own word if he wanted to and keep repeating it until the dictionary admitted it as real. My goodness, what a thin skin and how pompous! I was really trying to listen to and understand his argument, but his response to the caller instantly destroyed his credibility for me and I could no longer take him seriously.