President Obama introduced this Bill in July with the hopes of putting a "nutrition label" on basic consumer finances . . credit cards, taxes, loans. This agency is supposed to make sure that consumers are protected from harmful financial choices and are educated about the products they purchase. This sounds like a GREAT IDEA Right? Well it depends on who is in charge. . . . Should be make this a section of another agency? Should this be an independent agency? Should the Federal Reserve have a hand in it?
Below Representative Brad Miller, Democrat from North Carolina comments on what the agency COULD DO if ran correctly . . . he compares it to food safety . . .( but that is a different BLOG) Its like giving your mortgage, your credit card, and other financial products a "FRESHNESS" guarantee!
Watch out for this one . . it could be interesting!
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