December 6, 2013
Drawing moral lines in our rough-and-tumble capitalist system can be hard. But it should not tax too many ethical muscles to set aside some protections for trusting, unsophisticated borrowers of modest means. That is, unless you're a politician working on behalf of predatory lenders.
And it's amazing how many politicians do, making the recent successes of the Consumer Financial Protection Bureau seem all the more miraculous. The CFPB was created in 2010 to set rules of the road for consumer financial products -- mortgages, student loans, payday loans and such.
Follow Froma Harrop on Twitter @FromaHarrop. She can be reached at fharrop@gmail.com. To find out more about Froma Harrop and read features by other Creators writers and cartoonists, visit the Creators Web page at www.creators.com.
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