As reported the Heritage Foundation's blog, the 'Frank-Dodd' bill has spawned more control over the individual citizen with the Consumer Financial Protection Bureau (CFPB)--if that's even possible!!! The 'really slimy' George Soros made the supervisory position an "advisor to the president" and as such, does not require confirmation by the Senate as do the 'up-front' cabinet positions. Elizabeth Warren is the SJo choice to play dictator over America's individual financial thought and action.
Some of the freedoms this bureau will eradicate or tightly control:
- Regulating services provided by automated teller machines; bill payments by phone; point-of-sale transfers in stores.
- Supervising retail sales made by mail, telephone, fax, internet; how products can be advertised; how products can be shipped.
- Collecting data from banks, credit unions, mortgage lenders and others to insure lending practices are "fair" to local communities.
- Regulating terms and conditions of credit cards, mortgages, leasing, franchises and other financial services.
- Overseeing communications between developers, prospective buyers and homeowners, including the types of printed materials that must be destributed based on the number of lots in a subdivision, including property restrictions and descriptions of climate and topography.
Til Nex'Time....
http://blog.heritage.org/2011/06/02/new-evidence-reveals-vast-powers-of-consumer-finance-bureau/
http://www.heritage.org/Research/Reports/2011/04/Reforming-Consumer-Financial-Protection-Bureau-Necessary-to-Protect-Consumers
http://online.wsj.com/article/SB10001424052748704746804575367502836650966.html
http://thomas.gov/cgi-bin/query/z?c112:H.R.1121:
http://www.gpo.gov/fdsys/pkg/PLAW-111publ203/pdf/PLAW-111publ203.pdf
http://bachus.house.gov/index.php?option=com_content&task=view&id=1092
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