Primate parts smuggled inside cases of fish. Suitcases stuffed with dried duiker antelope that's later sold door to door. These are the hallmarks of the unregulated, underground bushmeat trade in America.
History instructs that the "independence" of the regulator is beside the point. Consumer protection depends on altering the fundamental relationship between the buyers and sellers of financial products.
There are two consumer protection amendments getting serious attention on the Senate floor this week, one of them positive, one of them incredibly destructive -- the kind of amendment that can actually sink the bill if adopted.
More than 70 years ago the Consumers Union called for affordable, reliable health care for all Americans. Now, after decades of failed proposals, broken promises, and political rancor, reform is in reach.
Today the Fed has amended the Truth in Lending regulation "to protect credit card users from unreasonable late payment and other penalty fees and to require credit card issuers to reconsider increases in interest rates."