Category: Progressivism
Wednesday, April 28, 2010
Loan Approval Misery Under Obama Plan
The financial regulation bill now hurtling through Congress sets up a Consumer Financial Protection Agency (CFPA) to police lending in America. And, as usual, the liberals have fouled it up.
California Republican Congressman John Campbell (no relation to Tom) points out that the bill would “require anybody who makes a loan of any type or amount to any consumer for any reason to register with” the CFPA and get its approval for “the structure of that loan.“
So any bank or store or credit card company or merchant or service provider who offered credit in any form to anyone would have to get advance approval from the CFPA. Full Piece
Permalink
Pursuant to Title 17 U.S.C. 107, other copyrighted work is provided for educational purposes, research, critical comment, or debate without profit or payment. If you wish to use copyrighted material from this site for your own purposes beyond the 'fair use' exception, you must obtain permission from the copyright owner.
Copyright ©2008-2011 MoveOff,LLC.
Content Copyright © individual authors.
NOTICE: Contributors, authors, columnists and editor are not paid.
