Jane Bryant Quinn Endorses the Financial Product Safety Commission
Jane Bryant Quinn, influential personal finance writer at the Washington Post, has endorsed the AFFIL-backed Financial Product Safety Commission (FPSC). This is the latest of many important endorsements, and we’re hoping for Congressional action to create the Commission soon.
Here’s an excerpt from her column:
Legislative action always comes long after the damage has been done. And it can’t anticipate what sharkish product the financial industry will dream up next.
That’s another reason for setting up an independent Financial Product Safety Commission. It would be on the job all the time, requiring cost disclosure and monitoring risks.
What passes today for consumer protection not only failed consumers, it failed the country. Time for a new approach.