Consumer Law

Bob Herbert on the Proposed Consumer Financial Product Agency

By Jeff Sovern

Bob Herbert in the Times has an interesting take on the proposed Consumer Financial Product Agency in his column in today's Times, Chutzpah on Steroids.   The whole column is worth reading, but here's a sample:

There is nothing free or fair about a market in which one side uses double talk and mumbo jumbo to obscure important information and deliberately dupe the other side into making decisions against its own interests.

When I think of the banking industry fighting to kill this proposed agency, it brings to mind the decades in which tobacco companies insisted that cigarettes were safe, and those days long ago when the auto companies fought against seat belts, and all the dopey arguments that were made against protecting the public from unsafe drugs and kitchen appliances that might burst into flames, and so on.

Full post as published by CL&P Blog on July 14, 2009 (boomark / email).