{"id":264669,"date":"2010-02-02T10:34:38","date_gmt":"2010-02-02T15:34:38","guid":{"rendered":"http:\/\/blogs.reuters.com\/felix-salmon\/2010\/02\/02\/andrew-cuomo-protects-financial-consumers\/"},"modified":"2010-02-02T10:34:38","modified_gmt":"2010-02-02T15:34:38","slug":"andrew-cuomo-protects-financial-consumers","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/264669","title":{"rendered":"Andrew Cuomo protects financial consumers"},"content":{"rendered":"<p>It will be the job of the Consumer Financial Protection Agency &#8212; assuming it ever comes into existence &#8212; to crack down on banks sneaking inadequately-disclosed fees onto their customers. in the mean time, we have to make do with the Fed, and, um, <a href=\"http:\/\/finance.yahoo.com\/news\/Citigroup-in-settlement-on-apf-123937854.html?x=0&amp;sec=topStories&amp;pos=8&amp;asset=&amp;ccode=\">the New York attorney general<\/a>:<\/p>\n<blockquote>\n<p>Citigroup Inc. agreed Monday to suspend plans to charge fees on certain kinds of checking accounts as part of a settlement reached with the New York Attorney General&#8217;s office.<\/p>\n<p>The fees would have affected more than 1 million customers.<\/p>\n<p>Attorney General Andrew Cuomo said Citigroup failed to provide adequate disclosures about the fees, and also didn&#8217;t offer a free checking program long enough before implementing the charges. Cuomo did say the bank had the right to start charging fees, but it needs to respect consumers&#8217; rights and give proper notice.<\/p>\n<\/blockquote>\n<p>New York&#8217;s banks are, of course, no strangers to the experience of cowering in the face of an onslaught from an attorney general with gubernatorial ambitions. But I do wonder what will happen if and when the CFPA is created, and how many turf wars there might be.<\/p>\n<p><b><i>Update<\/i><\/b>: Maybe Cuomo should take a look at <a href=\"http:\/\/baselinescenario.com\/2010\/02\/02\/credit-card-cleverness\/\">Citi&#8217;s latest attempt to find a loophole in the new credit-card rules<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It will be the job of the Consumer Financial Protection Agency &#8212; assuming it ever comes into existence &#8212; to crack down on banks sneaking inadequately-disclosed fees onto their customers. in the mean time, we have to make do with the Fed, and, um, the New York attorney general: Citigroup Inc. agreed Monday to suspend [&hellip;]<\/p>\n","protected":false},"author":398,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-264669","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/264669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/398"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=264669"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/264669\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=264669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=264669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=264669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}