It has been a big day. Yikes. Adding to the big-ness: the administration sent to the Hill the proposed text for a law creating the Consumer Protection Agency. This brand-new agency would wield tremendously broad power. A look at the definitions section of the 150-page bill uncovers a definition for consumer: "an individual." Also "defined," is "consumer financial product or service." Guess what that means - "a financial product or service used by a consumer."
Friday links: extreme pricing pressure
22 hours ago
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