Quote:
Originally Posted by DerbyCat
ARyan, when I hear that business doesn't like governmental oversight, I want governmental oversight... maybe I need to look a little deeper before having that knee-jerk reaction.
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My feeling here is, we already have governmental oversight. Now they are giving unlimited power and R&R making authority to a brand new authority supposed to protect the consumer, when those consumer protection agencies already exist within each regulator of the financial industry.
To me this isn't fixing anything for consumers, or fixing the industry and its many parts. This is just dumping a new regulating industry on top of the many others, and hoping something works. Well with how they are going about setting this industry up, to me it looks trouble on the horizon.
I know USAA well. In fact we have members who also have accounts there. From what I know they are a well respected, however they are still a bank, and got into the banking industry after being an insurance firm. I wouldn't recommend them over a credit union, but if you are happy with them, then why do you feel the need for a new regulatory agency to mandate new R&R that will no doubt effect your relationship with them.