From Card Fees to Mortgages, a New Day for Consumers

From the New York Times


At last, it’s settled.

After months of haggling, the terms of financial reform are set, so long as both houses of Congress vote to accept them in the coming days.

While elected officials spent much of their time working out the details of regulating complex derivatives and grappling with whether banks ought to make big bets with their own money, they also set a number of new rules that will directly affect consumers.

Investors and those who advocate on their behalf did not get everything they wanted. Stockbrokers and annuity peddlers are still not required to act in their customers’ best interest, for instance. But mortgage shoppers stand to gain under the new rules and millions of people will now have access to a free credit score.

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