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What would be the impact of Elizabeth Warren being elected to head the consumer - Writing Techniques
| What would be the impact of Elizabeth Warren being elected to head the consumer  Elizabeth Warren has been lobbied as a champion of the people. Ms. Warren will most likely write strict rules forcing banks to disclose credit and mortgage term very clearly and simply to consumer to avoid the “bait and trap” technique. I think Ms. Warren’s rules will inevitably cause banks and financial institutions to shift many of their hidden fees and cost directly to consumers. Examples of that previous point would be the cost of providing free checks to new customers, costs of debit and credit cards, increase in overdraft fees (In my opinion it’s your own fault for experiencing overdraft fees), possibly higher interest rates on credit cards but not exactly usury. I cannot realistically say her rules will strip banks of billions of dollars in profits, they might but it is impossible to prognosticate the future no matter how strenuously you try. Treasury secretary Tim Geithner opposes her because he believes she will cripple the American banking system which will inevitably harm business, consumers and possibly the world instead of ameliorating issues. |
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