We recommend investors buy a consumer staples ETF over a financial ETF because the consumer staples sector allocates 73% of the value to attractive-or-better-rated stocks compared to 21% for the financials sector.
About 6 in 10 of all voters and independents agree with each of these proposals: cracking down on pay packages that encourage excessive risks, a Consumer Financial Protection Agency separate from the Federal Reserve and a new tax on the largest financial institutions to recoup any bailout losses.
The bill had a hearing before the Financial Institutions and Consumer Credit Subcommittee of the full House Financial Services Committee a few weeks ago.
Mr Dodd's clunking compromise is to place a Consumer Financial Protection Bureau inside the Fed (where it gets a chunk of the Fed's budget), make its director a presidential appointee and allow the oversight council to overrule its decisions.
In the wake of the financial crisis of 2008, Warren brainstormed what would become the Consumer Financial Protection Bureau as a way of protecting consumers against the predatory financial services industry and was brought to Washington D.
FORBES: Elizabeth Warren: From Consumer Advocate to United States Senator
The California Department of Financial Institutions, faced with a growing number of consumer complaints directed at financial institutions in the wake of the global economic crisis, needed a solution to process citizen requests faster and to improve case-tracking and recordkeeping.
For instance, BrightScope allows a consumer to look up a financial advisor by zip code, employer, the amount of money they manage and the types of clients they cater to.
Does the White House -- would the White House consider having a consumer financial protection agency that is independent but is part of another regulator, or does it have to be a separate entity?
Watch the video below, or check out this handy explainer, Consumer Financial Protection Bureau 101: Why We Need a Consumer Watchdog.
And they would consolidate the consumer protection functions currently spread across half a dozen agencies and vest them in a new Consumer Financial Protection Agency.
WHITEHOUSE: Weekly Address: Learning from History to Reform Wall Street | The White House
In addition to Ms. White, Tuesday's hearing also gave the senators a chance to question Consumer Financial Protection Bureau Director Richard Cordray about his nomination for a full term.
All told, this reform puts in place the strongest consumer financial protections in history, and it creates a new consumer watchdog to enforce those protections.
On Wednesday, the Consumer Financial Protection Bureau outlined a set of options designed to encourage such refinancings.
Democrats proposed to house a consumer financial protection agency inside the Federal Reserve, but with independent authority.
Or, why the Consumer Financial Protection Bureau, a federal agency, should protect your business as well as consumers.
FORBES: How To Fix The (Hidden) Financial Hole In Your Portfolio
This idea underlies the Obama administration's proposal for a Consumer Financial Protection Agency.
Has he asked him, and other executives, to ease up on their opposition to having a consumer financial protection agency?
The Financial Services Authority has a consumer helpline: 0845 6061234.
The newly established Consumer Financial Protection Bureau has a wide-ranging mandate and broad powers for investigating and regulating things like checking accounts, credit cards, and education and home loans.
Yale economist Robert Shiller, like Mr. Thaler a leading behavioral economist, has expressed doubt that a consumer financial protection agency would have prevented the housing bubble and financial crisis.
President Barack Obama just named Harvard Professor Elizabeth Warren, who came up with the idea of a Consumer Financial Protection Bureau, as head of the new federal agency.
FORBES: Elizabeth Warren To Oversee New Consumer Protection Agency
Ten years ago there were approximately 12, 000 FDIC (Federal Deposit Insurance Corp.) insured Banks and Thrifts (financial institutions with a predominant consumer emphasis) in the U.S. That compares with 8, 000 banks today.
Treasury Secretary Timothy Geithner came to Capitol Hill Wednesday to talk up the administration's plans for a Consumer Financial Protection Agency and address lawmakers' concerns about firms that are too big to fail.
"The number of financial-education resources to choose from is overwhelmingly large, " said a report in January from the President's Advisory Council on Financial Capability, a panel of experts in financial services, consumer protection and education.
But there is a very real sense in which a consumer bank should not really be regarded as a financial institution at all.
FORBES: Banks Need To Accept That They're Really IT Companies
The American Bankers Association in 2011 asked the Consumer Financial Protection Bureau to apply consumer financial protection laws uniformly across the financial sector regardless of whether an entity is a traditional bank or one of the evolving nonbank payment providers.
The ombudsman deals with cases that cannot be resolved between a consumer and financial institution.
One of the main elements of the legislation is a new consumer financial protection bureau within the Federal Reserve.
FORBES: As Senate Passes Financial Reform, Wall Street Braces For What Comes Next
"Americans' pastime is shopping, " said Ivan Feinseth, director of research at money manager Tigress Financial Partners, and a big consumer bull.
The crisis has the full attention of the Consumer Financial Protection Bureau which in a recent blog , presented its sobering findings.
应用推荐