".... the bill would “require anybody who makes a loan of any type or amount to any consumer for any reason to register with” the CFPA and get its approval for “the structure of that loan.” So any bank or store or credit card company or merchant or service provider who offered credit in any form to anyone would have to get advance approval from the CFPA.
Can you imagine the bottleneck? Businesses will be waiting like planes over O’Hare Airport for permission to proceed. Business will stagnate as credit grinds to a halt. In the name of protecting consumers, the Obama Administration will strangle credit in a mass of regulation." [Dick Morris]
Can you imagine the bottleneck? Businesses will be waiting like planes over O’Hare Airport for permission to proceed. Business will stagnate as credit grinds to a halt. In the name of protecting consumers, the Obama Administration will strangle credit in a mass of regulation." [Dick Morris]
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