Obama adopts Finsec’s Fair Lending plan!

Barack Obama has announced a series of reforms for the US financial sector that show a striking resemblance to Finsec’s Fair Lending Act proposal.
The proposal, much of which will be subject to approval by Congress, sets out the biggest overhaul of market rules in decades, and involves an additional layer of regulation for the biggest firms. It would create an agency for monitoring consumer financial products, make the Federal Reserve the overseer of companies deemed too big to fail, and bring hedge and private equity funds under federal scrutiny.
“This was a failure of the entire system,” Obama said yesterday. “An absence of oversight engendered systematic, and systemic, abuse.”

Advertisements

0 Responses to “Obama adopts Finsec’s Fair Lending plan!”



  1. Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s




You can contact us at:

0800 FINSEC (0800 346 732)
union@finsec.org.nz
www.finsec.org.nz


Creative Commons License
Join Now 0800 FINSEC

RSS LabourStart – act now to help other workers

  • An error has occurred; the feed is probably down. Try again later.

Finsec Photos

Cathie Lendrum

Carl and Oliver

Westpac North East Valley, Dunedin

Westpac North East Valley, Dunedin

piggybank on leash

More Photos

Archives


%d bloggers like this: