Barak Indicators Capturing Monetary Change Into Law. What'll This Regulation Do?

[teddie]

He went as far as to make contact with the reforms "the best consumer rights in history." The leader integrated with a burst of applause: "As a result of this law, the American individuals will not ever once more be expected to foot the bill for Wall Streetis blunders."By JIM KUHNHENN, Linked Press Writer Jim Kuhnhenn, Connected Press Writer?

[Naalnish]

Listed here are ten facets of the Wall Street Reform and Consumer-Protection Act you may possibly not discover about. 1. Tougher protections for consumers against unfair credit card practices like value increases for existing credit card bills. 2. Mortgage agents is probably to be banned from generating greater profits by promoting mortgages they understand customers might?t manage. three. Free of charge yearly credit ratings so folks could stay on best of the finances. [Caution: cost-free credit ratings are accessible if you obtain worse conditions on financing due to something on your credit report, or if you are declined.] four. No further taxpayer-funded bailouts. If your organization could?t produce it, it'll need to have definitely to sell. five. Higher feedback by company investors more than just how considerably a President gets settled. And firms? Payment forums are now in fact necessary to be genuinely impartial. six. Agents who offer investment tips will need to operate in the really very best interests of the clientele, not their extremely personal economic interests. 7. Monetary companies will not be permitted to grow so big when 1 fails, the entire financial technique will be impacted by it. 8. You will see a single firm whose only job would be to ensure that customers obtain the rights they deserve and to create clear suggestions to place on payday lenders, mortgage firms, banks, and charge card lenders responsible. 9. Firms can not be charged further costs for bank card?swipe costs? that exceed the value of processing orders. ten. You are able to uncover lots far more here at WhiteHouse,gov or at financialstability.gov

[Veto]

[deshi]

TurboB replied to post #1: 2 Have you read into 2300 pages of the bill? No? Then you have no notion if it is a joke or not. Opinion stated as reality. 41 months ago

[Feliciano]

TurboB replied to post #3: 4 > There are so many things in the bill that people don't understand that it leaves itself open to a lot of mischiefHow do you know this? Opinion, stated as fact. 41 months ago

[donnell]

Well, it's a joke. When you start reading into the 2300 pages of the bill, you find stuff that will crush small banks. Banks use to have the highest number of employees handling credit checks for mortgages, now banks have the highest number of employees doing government paperwork. And this will just continue that.And then there are things like racial quotas that was thrown in as well as making trade with the Congo illegal. What's does the Congo have to do with banking regulations?It also creates about 20 different NEW government departments that all will have the responsibility of checking what the banks are doing. 20 departments, all with staffs and fancy offices! Lots of jobs for Democrat hacks!And all of the extra expenses will be passed down to the consumer. Look for more fees on everything banking and financial related.And to top it all off, most of the problems in the financial industry was caused by Freddie Mac and Fannie Mae, and there's no regulations in this bill that affect them! One Congressman recently said he had no idea how this is all going to work.So it's a joke. It's a cruel joke on the American people.

[Rion]

I agree DanZee that again we have a multi thousand page bill passed without Congressmen reading the legislation and voting on it when they don't know what is in it. There are so many things in the bill that people don't understand that it leaves itself open to a lot of mischief. I would like to see something passed that makes it mandatory that reasonable time to read a bill is given to everyone voting on it.

[Jeriah]

DanZee said: 1 Well, it's a joke. When you start reading into the 2300 pages of the bill, you find stuff that will crush small banks. Banks use to have the highest number of employees handling credit checks for mortgages, now banks have the highest number of employees doing government paperwork. And this will just continue that.And then there are things like racial quotas that was thrown in as well as making trade with the Congo illegal. What's does the Congo have to do with banking regulations?It also creates about 20 different NEW government departments that all will have the responsibility of checking what the banks are doing. 20 departments, all with staffs and fancy offices! Lots of jobs for Democrat hacks!And all of the extra expenses will be passed down to the consumer. Look for more fees on everything banking and financial related.And to top it all off, most of the problems in the financial industry was caused by Freddie Mac and Fannie Mae, and there's no regulations in this bill that affect them! One Congressman recently said he had no idea how this is all going to work.So it's a joke. It's a cruel joke on the American people. 41 months ago

[Aegelmaere]

Have you read into 2300 pages of the bill? No? Then you have no idea if it is a joke or not. Opinion stated as fact.

[Morse]

@Goldie said: 5 Here are 10 aspects of the Wall Street Reform and Consumer Protection Act you may not know about. 1. Stronger protections for consumers against unfair credit card practices like rate hikes for existing credit card balances. 2. Mortgage brokers will be prohibited from making higher commissions by selling mortgages they know consumers can?t afford. 3. Free annual credit scores so people can stay on top of their finances. [Clarification: free credit scores are available if you receive worse terms on a loan because of something on your credit report, or if you are rejected.] 4. No more taxpayer-funded bailouts. If a company can?t make it, it will have to liquidate. 5. Greater input by company shareholders over how much a CEO gets paid. And companies? compensation boards are now required to be truly independent. 6. Brokers who offer investment advice will have to act in the best interests of their customers, not their own financial interests. 7. Financial firms won't be allowed to grow so large that if one fails, it will affect the entire financial system. 8. There will be one agency whose sole job is to make sure that consumers get the protections they deserve and to set clear rules to hold banks, mortgage companies, payday lenders, and credit card lenders accountable. 9. Businesses can't be charged extra fees for debit card ?swipe fees? that exceed the cost of processing transactions. 10. You can learn plenty more here at WhiteHouse,gov or at financialstability.gov 41 months ago