A large reason we–especially Las Vegas residents–are in the midst of the foreclosure crisis and the current recession is that the mortgage and subprime industries were running wild with no governmental authority over they’re unethical business practices.
If the Consumer Finance Protection Agency is created, there will finally be someone that looks out for the interest of consumers the same way that the Consumer Protection Agency checks the safety of cars made by Toyota or the lead paint content of toys imported from China.
Read the cartoon below, from Pixton.com and also posted on the Center for Responsible Lending’s website, for a healthy dose of logic as to why it makes sense to have a Consumer Finance Protection agency and why arguments against it don’t really hold water.
If you need a bankruptcy attorney in Las Vegas or bankruptcy information in Las Vegas to help you deal with the current foreclosure crisis and recession, contact us for a free initial consultation. You can discuss your situation over the phone or meet with a Haines & Krieger attorney in person in our Las Vegas bankruptcy law office.