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November 23rd, 2009

Survey: What Are Your Thoughts on the CFPA?



Sweeping financial overhaul programs are making their way through Congress as we speak. A portion of that large legislation includes a measure to create the Consumer Financial Protection Agency (CFPA) — a Federal entity that will write and enforce new regulations covering financial products such as credit cards and mortgages (among others). Advocates of the new agency feels that consumers were left largely unguarded and improperly protected from potentially damaging choices by existing rules.

In the latest issue of HSH’s Market Trends Newsletter we included a survey which asks readers “Do You Need More Consumer Protection?

Do you think we need a new Federal agency? If you do support it, should the new agency regulate banks, credit unions, Wall Street, credit card companies, mortgages? Could a watchdog agency like the CFPA have prevented the housing crisis or the stock market collapse?

We want to hear your opinions on these questions and more regarding the CFPA — CLICK HERE to vote on our latest survey.

It’s important to note that these financial-reform efforts are still under debate on Capitol Hill, and while each house of Congress has cast preliminary votes on the CFPA and its desired functions, there is a definite possibility that the scope of the CFPA will change as the debate continues.

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2 Responses to “Survey: What Are Your Thoughts on the CFPA?”

  1. Brooklyn Mort Says: December 10th, 2009 at 11:10 pm

    This would be VERY destructive to our economy in many ways ! The thought of more Bureaucratic inefficiency in America is absolutely disastrous. Wake up AMERICA!!!

  2. Tim Manni Says: December 11th, 2009 at 2:41 pm

    Hey Brooklyn,

    Thanks for commenting. What portions of the CFPA do you dislike the most?


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About the HSH Blog

HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

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Tim Manni

Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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