Consumer Law

Jeff Gelles Column on Why We Need an Independent CFPA

By Jeff Sovern

Here. Tellingly, Gelles describes how a troublesome credit card practice that elicited only an advisory letter from OCC, that as Gelles puts it, "told card issuers to do a better job of warning customers they could be shafted," was later outlawed by Congress in the Credit CARD Act, further demonstrating the gulf between Congress and existing bank regulators.

Full post as published by CL&P Blog on March 08, 2010 (boomark / email).