Originally posted on CNN

 

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The financial sector led a broader stock market selloff Friday after U.S. regulators charged Goldman Sachs with defrauding investors by not telling them about conflicts of interest in subprime investments it sold.  Read More →

President Barack Obama’s proposal to create a Consumer Financial Protection Agency came in with a bang. But it appears to be going out with a whimper. Before the proposal was introduced in Congress last year, Treasury Secretary Tim Geithner said of the economic meltdown. “This crisis was caused, in part, by a lack of consumer protections.” And?... 

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Stocks rallied Wednesday as investors resumed the advance after a one-day selloff, scooping up tech and financial shares despite Google’s potential shutdown of its China operations and mea culpas from the nation’s major bank executives.  Read More →

Today, the Consumer Federation of America congratulated the House and Senate conferees on passage of landmark pro-consumer and pro-investor provisions in the financial regulatory reform bill. “This bill marks the biggest transformation of financial regulation in this country since the Great Depression,” said CFA Legislative Director Travis Plunkett.... 

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