Strongest Consumer Financial Reform Since FDIC

A new government entity is taking shape that should protect consumers from nasty credit card tactics and other lending problems that have been plaguing the market for years. The Bureau of Consumer Financial Protection will be a watchdog agency targeted at cleaning up the consumer marketplace. It will force companies to create more transparent product disclosures, increase consumer financial literacy, and regulate lending products such as credit cards, mortgages, overdraft fees, payday loans and others.