Are New Regulatory Agencies for Financial Instutions Needed?
An anticipated push for more new financial regulation and regulatory agencies is expected from the Executive Office and its' supporters in Congress. The creation of a "Consumer Financial Protection Agency" for the regulation of mortgages and credit cards is at the top of the agenda.
Economic crises will not be solved by the creation of new government agencies. We can prevent or limit major financial fluctuations by actually having our CURRENT government regulatory agencies WORK AS ORIGINALLY INTENDED.
Adding MORE COMPLEXITY to an already COMPLEX FEDERAL SYSTEM of regulatory, advisory, and oversight agencies just makes it easier for those running the agencies to point their 'finger of blame' at someone else. So there will actually be LESS ACCOUNTABILITY with another agency.
Additional FEES for the institutions means ADDITIONAL FEES FOR CONSUMERS. It is the PEOPLE who in the end pay for all of these 'good ideas'.
Ask your Congressmen:
Why can't current agencies who already regulate credit cards ACTUALLY REGULATE them?
-Are they not authorized?
-Are they not capable?
There are over 20,000 pages of Federal Regulations:
Does anyone actually know and try to enforce the ones ALREADY in place?
Economic crises will not be solved by the creation of new government agencies. We can prevent or limit major financial fluctuations by actually having our CURRENT government regulatory agencies WORK AS ORIGINALLY INTENDED.
Adding MORE COMPLEXITY to an already COMPLEX FEDERAL SYSTEM of regulatory, advisory, and oversight agencies just makes it easier for those running the agencies to point their 'finger of blame' at someone else. So there will actually be LESS ACCOUNTABILITY with another agency.
Additional FEES for the institutions means ADDITIONAL FEES FOR CONSUMERS. It is the PEOPLE who in the end pay for all of these 'good ideas'.
Oppose the creation of new financial agencies!
Ask your Congressmen:
Why can't current agencies who already regulate credit cards ACTUALLY REGULATE them?
-Are they not authorized?
-Are they not capable?
There are over 20,000 pages of Federal Regulations:
Does anyone actually know and try to enforce the ones ALREADY in place?
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