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This new consumer agency is to protect Americans from longtime usury practices, such as fine print, and complex and/or ambiguous language in literature about financial products. (Some of us are old enough to remember before the FDA made it mandatory for grocery stores to show unit pricing, and how confusing a simple shopping trip would be to compare prices of different brands of the same food product.) Well this new consumer agency now plans to implement this easy comparison shopping for credit cards, financial agreements, etc to help Americans decide what financial product best fits their needs, and to promote competition:
"such as fine print, and complex and/or ambiguous language in literature".
Do you know what gobbledygook means?
Gobbledygook or gobbledegook (sometimes gobbledegoo) is any text containing jargon or especially convoluted English that results in it being excessively hard to understand or even incomprehensible.
It is used to describe gov't speak most of the time.
So, now we are going to pay millions in tax dollars to have the gov't write things that no one can understand to explain things in contracts that no one can understand.
The Constitution is printed on 6 pages: pages 1-4 are the base text of the constitution
page 5 is the letter of transmittal page 6 contains the Bill of rights.
I would rather read the fine print than pay more in taxes for some government agency to control it for me, thanks though.
I am quite capable of reading for myself.
The fine print contains a lot of scams that catastrophically rip-off good Americans . Many Americans have gone into bankruptcy and lost their homes due to foreclosure due to fine print AND misleading and/or ambiguous language in financial agreements.
This agency is also in place to eliminate unethical practices, for example : Universal default clauses were just eliminated from credit cards last August 2010 due to new Consumer Financial Protection Act .
There is a lot this agency is mandated to do to regulate the financial industries that have been financially ruining Americans for decades to due predatory practices.
This new consumer agency is to protect Americans from longtime usury practices, such as fine print, and complex and/or ambiguous language in literature about financial products. (Some of us are old enough to remember before the FDA made it mandatory for grocery stores to show unit pricing, and how confusing a simple shopping trip would be to compare prices of different brands of the same food product.) Well this new consumer agency now plans to implement this easy comparison shopping for credit cards, financial agreements, etc to help Americans decide what financial product best fits their needs, and to promote competition:
That's good. A lot of customers are overwhelmed with all those tricks companies are using these days.
And I hate Legalese and fine print. Just two weeks ago when filling in my ISP contract I could not read the fine print because the letters were simply too small, and printed in orange on white
That's good. A lot of customers are overwhelmed with all those tricks companies are using these days.
And I hate Legalese and fine print. Just two weeks ago when filling in my ISP contract I could not read the fine print because the letters were simply too small, and printed in orange on white
Yep
And no more inadvertantly signing away your first born
This new consumer agency is to protect Americans from.... complex and/or ambiguous language
Has anybody read the new Health Care Law???
Portions of it, and so far very clearly understood (such as current applications of HCR like elimination of pre-existing condition denials by corporate insurance, insurance caps eliminated, adult uninsured children can be insured by parents coverage up to age 26, etc ) Very simple, very easy
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