Posted by
Defend America on Tuesday, October 27, 2009 4:56:41 PM
Democrats Vote To Give ACORN Regulatory Authority Over Financial Institutions
emocrats Vote To Give ACORN Regulatory Authority Over Financial Institutions
WASHINGTON - During consideration of H.R. 3126, legislation
to establish a Consumer Financial Protection Agency (CFPA), Democrats
on the House Financial Services Committee voted to pass an amendment
offered by Rep. Maxine Waters (D-CA) that will make ACORN eligible to
play a role in setting regulations for financial institutions.
The Waters amendment adds to the CFPA Oversight Board 5
representatives from the fields of "consumer protection, fair lending
and civil rights, representatives of depository institutions that
primarily serve underserved communities, or representatives of
communities that have been significantly impacted by higher-priced
mortgages" to join Federal banking regulators in advising the Director
on the consistency of proposed regulations, and strategies and policies
that the Director should undertake to enforce its rules.
http://www.tradingmarkets.com/.site/news/Stock%20News/2599000/#at