The financial regulation bill now hurtling through Congress sets up a Consumer Financial Protection Agency CFPA to police lending in America. And, as usual, the liberals have fouled it up.California Republican Congressman John Campbell no relation to Tom points out that the bill would “require anybody who makes a loan of any type or amount to any consumer for any reason to register with” the CFPA and get its approval for “the structure of that loan.”So any bank or store or credit card company or merchant or service provider who offered credit in any form to anyone would have to get advance approval from the CFPA.Genomega, Loan Approval Misery Under Obama Plan

 

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