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...argument is that finance has become a Wild West of outrageous hidden fees, ridiculous fine print, deceptive come-ons and secret side deals designed to sucker us into predatory rip-offs we can't afford or escape. And the CFPA is supposed to be the new sheriff in town. It would be an independent agency empowered to write and enforce rules for financial products, so that banks would no longer enjoy lax consumer regulation - and nonbanks peddling loans from hell would no longer escape just about all regulation. It would be like a financial version of the Consumer Products Safety...

Author: /time Magazine | Title: The Case for a Consumer Financial Protection Agency | 2/17/2010 | See Source »

...began struggling to repay the underlying loans. Still, the notion that a CFPA would have prevented the mess is debatable at best. It's not as if all borrowers who bit off more than they could chew were deceived; many of them just wanted more house than they could afford, and it's not clear whether an agency devoted to helping consumers would have pushed for stricter scrutiny of their credit histories, higher requirements for their down payments and other borrowing restrictions that might have helped save them from their own bad instincts. In any case, it's hard...

Author: /time Magazine | Title: The Case for a Consumer Financial Protection Agency | 2/17/2010 | See Source »

...story university building crashing down on them. But he also realizes that many postquake amputees like himself are educated - and that they can be part of the solution, perhaps as prosthetic designers. "I know that I can still be a good electrical engineer," Mary admits. And Haiti can't afford to ostracize any engineers right...

Author: /time Magazine | Title: Haiti: What to Do with a Nation of Amputees | 2/17/2010 | See Source »

...Johnston came to Cairo in pursuit of dirt-cheap property and with an altruistic sense of purpose. "In all the cool places I've lived - Bloomington, Gainesville, Olympia - I felt like I could add to the community but not affect it. By taking the little bit I could afford to a place that had nothing, I felt like I could make a bigger difference." Johnston found an old Knights of Columbus building on Cairo's main drag and bought it in May for $24,000. Along with his girlfriend Adrienne Tootle, 25, and Zach Rapattoni, 24, he spent months making...

Author: /time Magazine | Title: Trying to Revitalize a Dying Small Town | 2/15/2010 | See Source »

Spent all of your cash buying that perfect gift you couldn't afford for your Valentine? Still in debt after purchasing textbooks at the Coop? Missed lunch to finish a problem set you should have done this weekend? Don't worry—we're only a few weeks into the term, and that means you should still have some Board Plus left...

Author: By George T. Fournier, CONTRIBUTING WRITER | Title: High on Love, Low on Cash? How to Make the Most of Board Plus. | 2/15/2010 | See Source »

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