Consumer Financial Protection Agency - SourceWatch

Consumer Financial Protection Agency - SourceWatch:

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The proposal to establish a federalConsumer Financial Protection Agency (CFPA) was at the center of the Obama administration’s overall plans to overhaul financial regulations. This agency, as created and named the "Consumer Financial Protection Board," would take certain consumer regulatory responsibility of financial products from seven other agencies and centralize it in one office. As originally conceived, it would have the authority and accountability to supervise, examine, and enforce consumer financial protection laws. It would be empowered to make rules, examine balance sheets and issue subpoenas. Any institution that provides consumer financial products such as mortgages, credit cards, student loans, auto loans, payday loans, and other consumer products, including payday lenders and mortgage brokers, would fall under the agency's jurisdiction. The agency would ban deceptive practices and oversee new consumer financial products. But?....http://www.sourcewatch.org/index.php?title=Consumer_Financial_Protection_Agency