photo credit: beatbull

Im not sure exactly the history of it, but I think the trend is, at least as far as I can remember, for every president to create a new agency and expand the government, at least a little. Expanding the governments authority seems to be a priority as well. Some additions are good and others, well, not so good. This new one may or may not be. It sounds good; however, we now have government working with us in our personal lives more than ever. They are now our partners.

We now have a new Consumer Protection agency, which will regulate and monitor mortgages, student loans, credit cards, credit scores and other consumer credit products. This may just be the thing we need to keep credit and lending companies from preying on unsuspecting people, however, it also means that the government now has all the information on all of the major things you do in your life, such as how you spend your money, your big purchases and your small ones too.

photo credit: charamelody

The Bureau of Consumer Financial Protection will be lead by President Obama appointed, Harvard Law professor, Elizabeth Warren, whose idea the bureau was in the first place. There is a flood of support for the new agency including the National Fair Housing Alliance. There is no doubt that there needs to be some regulation, between fees, fines, and surcharges I dont know whether Im coming or going with my bank account, but is the government the right ones to do it?

Read the full article from Inman News

Posted in Press Room, Giving Back, Buyer Resources, GenX GenY

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