Concurrent Consideration by Federal Reserve and House
News articles on the House Financial Services Committee vote noted that alterations to the Credit Cardholders’ Bill of Rights made it similar to the provisions under consideration by the Federal Reserve. Proponents argued that the proposed Federal Reserve regulations could be weakened by the industry before they are adopted while opponents argued that the House should pass a resolutions supporting action by the Federal Reserve and forget the legislation. What do you think?
- Should Congress and the Federal Reserve both continue independent consideration of the similar consumer protections? Or is this just bureaucracy at its best?
- What do you think about the alterations to the bill?
