President Obama recently proposed the creation of Consumer Financial Protection Agency (CFPA). The proposed agency would make all financial oriented products clearer to consumers. Everything from mortgages, credit cards, loans and even bank overdraft fees will be required to fully disclose the risks and costs associated with said products. Not only will the agency curtail deceptive marketing practices but it is planned to promote market competition and economic growth. Of course this isn't going over well with the big wigs @ large financial corporations nor Bernanke but who cares? It sounds like a sound plan to me-more consumer focus and a little less BS. Read more about it here:
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