PRESIDENT OBAMA ASKS CONGRESS TO CREATE A CONSUMER FINANCIAL PROTECTION AGENCY
Posted on August 4th, 2009
President Obama recently suggested to congress the formation of a Consumer Financial Protection Agency (CFPA). The details of the formation and duties of this Consumer Financial Protection Agency are outlined in a 152-page draft bill that will be considered by the House Financial Services Committee and Senate Banking Committee later this month. According to the [...]
MORE BILLS PASSED TO PROTECT CONSUMERS AGAINST PREDATORY LENDING
Posted on July 21st, 2009
Predatory lending is widely seen as one of the triggers for the current housing market slump and subsequent economic recession. In response to this predatory lending, Congress passed the Mortgage Reform and Anti-Predatory Lending Act in May of 2009 as an initial step towards restructuring the guidelines by which mortgage companies must abide. Congress recently [...]
