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Bureau of Consumer Financial Protection:

House conferees agreed to the Senate language that creates a bureau within the Federal Reserve to regulate consumer financial products like mortgages and credit cards. The bureau would also oversee payday lenders and check cashing businesses. Auto dealers and pawnbrokers are exempt from the bureau's regulation even though the Department of Defense wanted auto dealers included because of past instances of exploiting members of the military. House members originally wanted this watchdog to be a freestanding agency.

The bureau would have broad authority to write new rules for a variety of consumer products. Republicans argue that this is an added layer of regulation that is unnecessary. Opponents also argue that all of the new regulations of lenders would reduce the amount of credit available to consumers.

1 posted on 06/25/2010 3:30:10 PM PDT by La Enchiladita
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Financial Stability Oversight Council:

The council would monitor systemic risk across the entire financial system and make recommendations to the Federal Reserve to alleviate that risk. The ten-member council would include the heads of the federal financial agencies.


2 posted on 06/25/2010 3:30:58 PM PDT by La Enchiladita
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To: La Enchiladita
A Summary of What's In the Bill

I can break down the summary into one word: Tyranny.

3 posted on 06/25/2010 3:34:21 PM PDT by lowbridge (Rep. Dingell: "Its taken a long time.....to control the people.")
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To: La Enchiladita

Result of bill = Asia Rising....


5 posted on 06/25/2010 4:09:02 PM PDT by vidbizz
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To: La Enchiladita

“Sen. Scott Brown (R-Mass.), who is expected to be a key swing vote next week in the Senate, got some sweet exemptions for financial firms in the Boston area according to the Boston Globe. “

Love that part...goes to show Mr. Brown pulled the wool over EVERYONE’s eyes....what a POS.


6 posted on 06/25/2010 4:19:02 PM PDT by woweeitsme
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To: La Enchiladita

We already got told how the bill works by Chris Dodd.

“It’s a great moment. I’m proud to have been here,” said a teary-eyed Sen. Christopher J. Dodd (D-Conn.), who as chairman of the Senate Banking Committee led the effort in the Senate. “No one will know until this is actually in place how it works. But we believe we’ve done something that has been needed for a long time. It took a crisis to bring us to the point where we could actually get this job done.”


9 posted on 06/25/2010 4:36:52 PM PDT by RicocheT
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To: La Enchiladita

Soros has been pushing this, wants more global controls on US and our economy. This Gives more power to the Fed, that has already given Tarp money to foreign banks.


10 posted on 06/25/2010 5:14:05 PM PDT by opentalk
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To: La Enchiladita

What’s in the bill: First we take all your freedom and property. Then you work for us.

Have a nice day.


11 posted on 06/25/2010 5:15:52 PM PDT by Tzimisce (No thanks. We have enough government already. - The Tick)
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To: La Enchiladita

If you like our Healthcare, just wait to see what we do to your economy. :)


12 posted on 06/25/2010 5:19:13 PM PDT by Tzimisce (No thanks. We have enough government already. - The Tick)
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To: La Enchiladita

LIBs have accused PUBs of being “The Party of NO”. As in most cases in dealing with LIBs, projection is the key.

The RAT-led government is truly “The Party of NO”. No energy, no defense, no border control, no guns, no terrorists and no freedoms. Their only yes is breaking the laws.


13 posted on 06/26/2010 2:32:44 AM PDT by NTHockey (Rules of engagement #1: Take no prisoners)
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