Financial Reform Bill is Good News for US Consumers

Financial Reform Bill is Good News for US Consumers

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money.gifLawmakers have been working hard to come together on a financial reform bill, and on Friday finished crafting their joint version.

The bill is good news for consumers. It contains many provisions aimed directly at protecting consumers, starting with the creation of a Consumer Financial Protection Bureau whose role is to create laws to prevent unfair practices in consumer loans and credit cards.

(READ more from the Boston Globe)

COMMENTS

  1. Sorry, this isn’t good news. Good news would have been transparency in passing HR 1207 as Obama had promised transparency. This bill just expands government and ignores the Constitution. In the long run this bill will actually be bad for consumers (or the tax payer) because it will expand opportunity for more bank bailouts…. Readers…please do your homework.