November 13, 2007

3915 : A market in the balance

3915 left committee, albeit in a much changed form. According to the rumors flying around there are many more changes to come prior to the bills arrival on the floor.

So how did all this happen? The story I've heard from several sources involves a lobbying effort led by banks and consumer advocacy groups who thought this bill would actually do something good for consumers. There is an effort being rolled out to touch these consumer groups and help the to understand just how much power they are handing over to banks and how much competition will be lost with the shutdown of the TPO industry.

Posted by mcblogger at November 13, 2007 03:29 PM

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