The new U.S. Consumer Financial Protection Bureau isn't even up and running yet, and already it seems its funding could be in trouble. Prof. Elizabeth Warren, the champion of the bureau, is trying to protect her project in the face of a conservative House majority.
The organization, birthed last year during the Dodd-Frank financial reform, would bring together the seven government agencies already in place with consumers' interests in mind. Reuter's Prism Money blog contends that Harvard Law School's Warren is a champion worth protecting.
Warren is a bank watchdog, intent on protecting consumers who might be subject to banking and credit abuses.
Warren feels the problem lies in the hits the middle class has been taking in the face of the credit industry's determined, bank-friendly marketing. Fees, finance charges, high rates are all big problems for families struggling just to pay the bills.
The agency won't be up and running until July and Warren has yet to be dubbed its head. Prism urges those who'd like to see the bureau get off the ground to contact your senators and congressman to "urge them to leave the bureau's funding alone." You can also ask your credit union or community bank directly to support the independent funding of the organization.
CLICK HERE for a list of U.S. Senators and HERE to write your rep in the House of Representatives.
Why Elizabeth Warren needs your help to police the banks [Reuters]
According to a BusinessInsider interview, Gogo in-flight wireless is doing well and just raised another $35 million in capital to keep the lights on and the in-flight Wi-Fi flowing. Aircell, Gogo’s parent company, says that the service served 3 million sessions between Thanksgiving and New Year’s. Google offered free Gogo on all flights during this period.
In-flight Internet is, in a word, great. However, I worry that it is severely hampering my movie watching time these days as I’m encouraged to write and work during flights as opposed to read magazines and watch movie’s I wouldn’t normally watch with the lady wife like The Box and Pootie Tang. Gogo is available on American, United, Delta, Virgin America, and Air Canada and airlines love it, as Dan Frommer points out, “because it’s a way to distract passengers and generate revenue at the same time — unlike installing TV sets and on-demand movies, which costs money.”
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