The Inclusive Economy
Adventures of the Pig, Volume IV
Posted on 08/10/2010 @ 02:37 PM
Pig made a timely trip to the White House on Wednesday – just as President Barack Obama signed into law the most sweeping financial overhaul including the broadest consumer and investor protections since the Depression. The law gives the government authority to take over and liquidate failing financial firms, injects transparency into transactions involving financial instruments and will restrict banks from making risky bets with their own capital. The law creates The Bureau of Consumer Financial Protection, a new agency to protect consumers from abusive financial products. The law also creates a Loan Loss Reserve Fund for small-dollar, consumer credit loans. The fund will help to improve underbanked consumers’ small-dollar loan options by expanding the number of responsible lenders and products available in the marketplace. ALC Bronze Sponsor Center for Financial Services Innovation (CFSI) helped to craft and champion the creation of the small-dollar loan program. Jennifer Tescher, CFSI’s Director, will be a featured speaker at the ALC Assets Innovations Without Borders plenary panel discussion on September 23 at 1 p.m. Ms. Tescher will give insights into the future of financial products and services.
Stay tuned, you never know where Pig will end up next!