Listen Up, Washington: These 10 Money Problems Need Fixing Now

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credit card feesA long and grueling election season, focused on the economy, has come to a close, with many observers interpreting the outcome as a guarantee that the status quo will persist: legislative gridlock, precluding solutions to the country's fiscal challenges.

But aside from familiar, large-scale issues, like the fiscal cliff, there are many consumer-level financial problems that are in serious need of attention from regulators and legislators. One potential source of hope that these will be addressed: Longtime consumer advocate Elizabeth Warren defeated incumbent Scott Brown in a Massachusetts Senate race. Warren was passed over by President Obama for the top job at the Consumer Financial Protection Bureau, an agency created by the Dodd-Frank Act and based on her ideas; now she has an even more powerful position in Washington. According to Politico's Ben White, "Warren is widely seen as a near lock for a Banking Committee seat where she will almost certainly be a leading voice for tougher regulation and a powerful CFPB and will be a fierce defender of all of Dodd-Frank's provisions."

In an era of increasingly sophisticated technologies and transactions, many consumers are falling behind in understanding how to use essential financial products and services. The result is not just personal loss for individuals: Businesses, and hence the economy as a whole, suffer from friction between confused consumers and their providers. And government, when it steps in, can exacerbate these problems if regulation isn't carefully crafted.

Here, from our partners at U.S. News, are 10 consumer money matters that need attention in Washington and other centers of financial power.


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John

I don't want to hear it. We had oppurtunity with Romney and 60 million idiots voted for Obama. Let America go bankrupt.

November 09 2012 at 6:11 PM Report abuse rate up rate down Reply
Mimi

Federal Reserve dictates monetary policy, they own all notes and loans, they own America. Article is empty talk.

November 09 2012 at 12:53 PM Report abuse rate up rate down Reply
wdcarterjr

Stop the exemption of lawmakers from the laws they pass.

November 09 2012 at 11:19 AM Report abuse rate up rate down Reply
arenadood

The major thing needing fixing in Washington is that people learn to work together on solving problems and not fight anything the so called other side suggests. Dang it, Compromise then move on.

November 09 2012 at 11:15 AM Report abuse +1 rate up rate down Reply
freethedems2012

The Fiscal Cliff is looming and we're about to go over the edge.

November 08 2012 at 9:19 PM Report abuse -4 rate up rate down Reply
dolphi2864

60 % of Americans want bigger government. That is what polls suggest.

November 08 2012 at 8:19 PM Report abuse -1 rate up rate down Reply
1 reply to dolphi2864's comment
freethedems2012

You mean they want what they can get out of government. They don't care what is best for America.

November 08 2012 at 9:18 PM Report abuse -1 rate up rate down Reply
1 reply to freethedems2012's comment
xbor8

I get $640/month social security but dont consider that ripping off the gov. I earned it!

November 09 2012 at 9:28 AM Report abuse rate up rate down
ירון משה

Watch out of the next flesh crash:
http://ssrn.com/abstract=1877592

November 08 2012 at 7:19 PM Report abuse -1 rate up rate down Reply
manndrake

Never happen,, we're screwed

November 08 2012 at 7:17 PM Report abuse -3 rate up rate down Reply
Clete

you stink won,t post what I said Mr Ombama

November 08 2012 at 6:03 PM Report abuse -3 rate up rate down Reply
SGT KMU

There is no fiscal cliff, if there actually were, wouldn`t our all knowing media have made this an issue before the election? It`s all just a myth, even if it weren`t a myth, Obama can fix anything cant he?

November 08 2012 at 4:43 PM Report abuse +2 rate up rate down Reply
1 reply to SGT KMU's comment
Tyrell Vance

I heard the MSM is going to run picture's of the cliff this weekend.

November 08 2012 at 7:47 PM Report abuse rate up rate down Reply