Jun 30
The Treasury has sent its proposal for a Consumer Financial Protection Agency to Capitol Hill. The breadth of this law is staggering to say the least.Here is a summary from the WSJ:According to the draft legislation, Treasury’s plan would:1) Give the agency broad authority to write rules about services or products including: a. Deposit-taking activitiesb. Extending credit and servicing loans (this could include mortgages, credit cards, etc.)c. Check-guaranty servicesd. Collecting, providing, or
