Consumer Financial Protection Agency Act Research Paper by Nicky

An overview of the history and implementation of the Consumer Financial Protection Agency Act.
# 151281 | 2,919 words | 4 sources | MLA | 2012 | US
Published on May 31, 2012 in Economics (Macro) , Political Science (U.S.)


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Description:

This paper assesses the Consumer Financial Protection Agency Act in terms of problems it could solve and problems it could itself raise. The paper begins with an analysis of the current consumer protection relative to financial services. It then looks at the measures that could be implemented by Citigroup to avoid the implementation of the new Act.

Outline:
Introduction
The Current System of Consumer Protection in Financial Services
Criticisms of the Current Regulatory System
How the Consumer Financial Protection Agency would Address these Problems
Potential Concerns about the Consumer Financial Protection Agency
How Best to Advise Citigroup to go about Exerting Influence to Prevent the Passage of this Bill

From the Paper:

"A discussion on the current means in which the buyer of financial products and services is being protected under the law is difficult to commence. This is for the simple reason that the legislation naming such a supervisory system, its rights and obligations, is extremely ambiguous. As a result, there are several agencies which state to protect the right of customers. It has to be noted however that the actual wellbeing of the customer, in its essence and understood as an organization which would be exclusively in charge of protecting the rights of financial consumers, does not currently exist. What does exist however is an agglomeration of institutions which develop, implement and safeguard financial policies, and which, amongst other responsibilities, are also in charge of consumer protection. "

Sample of Sources Used:

  • Allen, M., Javers, E., Barack Obama to Create Consumer Financial Protection Agency, Politico, 16 June 2009, http://www.politico.com/news/stories/0609/23790.html last accessed on September 30, 2009
  • Andrews, E.L., Banks Balk at Agency Meant to Aid Consumers, New York Times, June 30, 2009
  • Geithner, T.F., Written Testimony of Treasury Secretary Timothy F. Geithner, House Financial Services Committee, Financial Stability, http://www.financialstability.gov/latest/tg231.html last accessed on September 30, 2009
  • Hall, K.G., Banks Fight to Kill Protection Agency, McClatchy, September 24, 2009, http://www.mcclatchydc.com/227/story/75997.html last accessed on September 30, 2009

Cite this Research Paper:

APA Format

Consumer Financial Protection Agency Act (2012, May 31) Retrieved March 03, 2024, from https://www.academon.com/research-paper/consumer-financial-protection-agency-act-151281/

MLA Format

"Consumer Financial Protection Agency Act" 31 May 2012. Web. 03 March. 2024. <https://www.academon.com/research-paper/consumer-financial-protection-agency-act-151281/>

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