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H.R. 3126 CRPA (Wordy C Research Jacket in Hyperlink and PDF Form)

Library Of Congress THOMAS link to 21 Congressional Record articles for H.R.3126

A selection of PDFs for recreational reading (I have more, but your eyes may start crossing - LOL):

(001 Page) December 17, 2009 Congressional Record

(001 Page) December 9, 2009 Congressional Record

(001 Page) Monday, October 19, 2009 Daily Digest, Senate

(066 Pages) Government Accounting Office Sept 2009 Credit Card Debt Collection

(001 Page) Congressional Record - House July 8, 2009 (Public Bills and Resolutions)

(004 Pages) H.R. 3126 CFPA Summary

(004 Pages) Wall Street Reform and Consumer Protection - Pelosi Stats

(229 Pages) Certified by the Superintendent of Documents from The Government Printing Office, 111th Congress, First Session: H.R.3126

(011 pages) Senate Committee on Banking, Housing, and Urban Affairs: Summary: Restoring American Financial Stability – Discussion Draft

(002 pages) SEC. 1101. AMENDMENTS TO THE FEDERAL TRADE COMMISSION ACT

(152 Pages) Title X: CONSUMER FINANCIAL PROTECTION AGENCY ACT OF 2009

(003 Pages) Gaps and Weaknesses of CFPA Act of 2009

(291 Pages) White House Discussion: HR3126 Draft of the CFPA Act of 2009

(012 Pages) Bloomberg Law Report on Risk and Compliance: CFPA (George Mason University School of Law)

(014 Pages) Congressional Research Service: Financial Regulatory Reform: Analysis of the Consumer Financial Protection Agency (CFPA) as Proposed by the Obama Administration and H.R. 3126

Pssst... Wanna hear something funny? My initial research was for H.R.3269 and I stumbled across H.R.3126 in the process (LOL). Here's what started my previous post:

(001 Page) H.R. 3269 The ‘‘Corporate and Financial Institution Compensation Fairness Act of 2009’’ has a kick a$$ opposition speech by HON. SPENCER BACHUS OF ALABAMA IN THE HOUSE OF REPRESENTATIVES from Friday, July 31, 2009 that really got me thinking...

My fave quote: "The legislation instructs the agencies to take a one-size fits all approach by prohibiting pay structures that ‘‘could threaten the safety and soundness of covered financial institutions.’’ Even if a company-specific approach were taken, the federal government has neither the experience nor expertise to set executive compensation arrangements for a wide variety of financial institutions. The legislation will replace the informed judgment of the board of directors and compensation committee with the cursory knowledge of a federal regulator, eroding the authority of the board and its ability to closely tailor compensation to the company. The Obama Administration did not ask for such expansive authority, no doubt a result of the interpretive and enforcement problems created by the poorly crafted executive compensation restrictions in the American Recovery and Reinvestment Act, which caused several companies to shift more pay to guaranteed salary, rather than reasonable performance-based incentives, in order to comply."

I found myself thinking that if they had no business telling corporations what to pay, why did they let Fannie and Freddie slash appraiser compensation, making a profit for a created middleman on the spread between what the middleman charged consumers and what they paid appraisers? They low balled the people doing the actual work and high balled the consumer, allowing Fannie and Freddie to let someone else put their fingers in their pockets. HVCC was not what people thought it would be. It also caused delays because less appraisers agreed to work for a cut in their fee, which means we had to wait for availability dates because the selection pool started shrinking.

Ever find yourself wondering if "they" are trying to figure out a way how to put "their" fingers in our pockets? That's why I read, people. I am constantly looking for that red flag... I can't shake the feeling that it is coming in some sort of legislative blurb nestled somewhere in a bill amendment/update. My fear is that one day someone is going to place Realtors on that hypothetical hit list of industry people to blame for something regarding the housing market melt down... Finger pointing is easy when people start demanding a scapegoat... Besides, things can't be fixed until someone claims (a) it is broken and (b) it needs fixing.

We all know it needs fixing...