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The agency is created to regulate corporations, not Americans
Would you say that about the FDA?
Not if the wrong person is put in charge.
She's just the shining face of integrity and legitimacy that sells it till it can be perverted 180 degrees to champion those special persons known now as corporations.
It will go through a stage where every American Individual will be encouraged to incorporate themselves in their respective States to achieve parity with the collective corporations.
Only, guess what, an individual will never have parity with a collective with regard to "rights" or any other damn thing.
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.
I am not sure why the government should care about the fact that the average american does not read a mortgage agreement carefully enough when buying a home. I will say it again, read the fine print yourself, don't take out the credit card/mortgage/loan/etc until you understand what you are signing. Isn't that just common sense?
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
And let me guess, you STILL signed it instead of demanding a copy of the fine print that you could actually read? That is your OWN fault
I am not sure why the government should care about the fact that the average american does not read a mortgage agreement carefully enough when buying a home. I will say it again, read the fine print yourself, don't take out the credit card/mortgage/loan/etc until you understand what you are signing. Isn't that just common sense?
Some fine print is deliberately written in a way that confuses the average customer. I read somewhere that in Europe there are trial projects where legal experts really translate fine print and laws into understandable text.
If someone doesn't read the fine print and gets screwed, it is their own damn fault.
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And let me guess, you STILL signed it instead of demanding a copy of the fine print that you could actually read? That is your OWN fault
Yes, I did. But only because the sum at stake is small anyway. If it were a contract worth thousands of dollars or euros, I sure would not sign it just like that.
Some fine print is deliberately written in a way that confuses the average customer. I read somewhere that in Europe there are trial projects where legal experts really translate fine print and laws into understandable text.
What is your point, exactly?
Take the time to understand it, ask someone who would understand it to read it, or don't sign it. I am still unsure why the government should be involved.
The government needs to create an entire agency to eliminate fine print? Where is a czar when you need one? And one more question, is the "Vice President in Charge of Paper Clips," an elected or an appointed position?
Great Idea!
We can start with every unread and indiscernible 1,000+ page exception and loop-hole laden gotta "pass it to find out what's in it" bill signed into law since Jan 20, 2009.
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