Expanded Powers for the Federal Reserve Under Obama Plan

The Obama administration will be releasing its proposed plan to improve the financial regulatory system and prevent future crises like the one in which we currently find ourselves. The plan includes a proposed consumer protection agency to prevent fraudulent practices by mortgage lenders and credit card companies. (Have you checked your credit card interest rates lately? Many credit card companies have greatly increased interest rates for cardholders, even if they are regular payers with good credit.) It would, however, also expand the powers of the Federal Reserve. Read more here.