Quote:
Originally Posted by DerbyCat
ARyan, I understand that you feel that this will professionally impact you and you think that government oversight will make more problems for people but I want oversight and protection, I don't trust business to look out for me, the consumer.
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I am worried for consumers. This will only impact them in the long run. I can deal with more compliance, and more R&R, the sad part of it all, is it rarely helps the consumers in the long run, particularly when it comes to banks.
As for oversight, you have it. FDIC, NCUA, SEC among many others. If they are failing, then they need to be corrected, not the institution of another federal agency.
As for not trusting business to look out for you, thats basically the mission statement of many credit unions. We work for you best interest. We are not-for-profit institutions who are financial cooperatives, and if you are a member, you are an owner. Credit Union's profit for members not from them. Question for you, do you belong to a credit union?