{"id":2340,"date":"2010-07-22T02:07:52","date_gmt":"2010-07-22T09:07:52","guid":{"rendered":"http:\/\/www.politicsplus.org\/blog\/?p=2340"},"modified":"2010-07-22T02:07:52","modified_gmt":"2010-07-22T09:07:52","slug":"how-finance-reform-will-help-you","status":"publish","type":"post","link":"https:\/\/www.politicsplus.org\/blog\/2010\/07\/22\/how-finance-reform-will-help-you\/","title":{"rendered":"How Finance Reform Will Help You"},"content":{"rendered":"

Yesterday Barack Obama signed the finance reform bill into law.  Rep. John B. Larson wrote an excellent article on its benefits for individuals.<\/font><\/p>\n

\n

\"22Larson\" Today, President Obama signed into law the Restoring American Financial Stability Act – the most important regulatory overhaul of our nation’s financial system since the reforms that led to 60 years of sustained growth after the Great Depression.<\/p>\n

For eight years, Wall Street played Russian roulette with America’s future while Republicans in Congress and President Bush looked the other way.  This law ends bailouts for big Wall Street banks and protects consumers and the financial system from the damaging practices that got us into this mess.<\/p>\n

 <\/p>\n

Here are 10 ways the new law will help consumers like you:<\/strong><\/p>\n

    \n
  1. \n
    Clear and Accurate Financial Information<\/span>: A new consumer bureau will ensure American consumers get the clear, accurate information they need to shop for mortgages, credit cards, student loans, and other financial products, and protect them from hidden fees, abusive terms, unfair terms and deceptive practices.  
     <\/span> <\/div>\n<\/li>\n
  2. \n
    Access to Your Credit Score: <\/span>Consumers will now have free access to their credit score, if their score negatively affects them in a financial transaction or a hiring decision.
     <\/span> <\/div>\n<\/li>\n
  3. \n
    End of Unfair Lending Practices<\/span>: The financial incentives for subprime loans that encourage lenders to steer borrowers into more costly loans will be prohibited, along with the pre-payment penalties that trapped so many borrowers in unaffordable loans.
     <\/span> <\/div>\n<\/li>\n
  4. \n
    Consumer Hotline<\/span>: Creates a national consumer complaint hotline so consumers will have, for the first time, a single, toll-free number to report problems with financial products and services.
     <\/span> <\/div>\n<\/li>\n
  5. \n
    Reduced Debit Card "Swipe Fees"<\/span>: Businesses can’t be charged extra for debit card "swipe fees" beyond the cost of processing those transactions. This could save American small businesses billions of dollars each year, savings which can then be passed along to consumers in the form of lower prices\u2026<\/span> <\/div>\n<\/li>\n<\/ol>\n<\/blockquote>\n

    Inserted from <Huffington Post<\/a>><\/p>\n

    For the other five, I urge you to click through to the source.<\/font><\/p>\n

    I had hoped he might announce the appointment of Elizabeth Warren to head the CFPB, but so far, there os only silence.<\/font><\/p>\n","protected":false},"excerpt":{"rendered":"

    Yesterday Barack Obama signed the finance reform bill into law.  Rep. John B. Larson wrote an excellent article on its benefits for individuals. Today, President Obama signed into law the Restoring American Financial Stability Act – the most important regulatory overhaul of our nation’s financial system since the reforms that led to 60 years of […]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-2340","post","type-post","status-publish","format-standard","hentry","category-politics","category-5-id","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/2340","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/comments?post=2340"}],"version-history":[{"count":0,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/2340\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/media?parent=2340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/categories?post=2340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/tags?post=2340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}